RTX A/S initiates a new share buy-back programme
The Board of Directors in RTX A/S (RTX) has decited to exercise the authority to buy back shares granted by the Annual General Meeting on 26 January 2016. The authority is valid until RTX's Annual General Meeting in January 2017 and covers a maximum value of up to DKK 35 mill, of which 20 mill have been exercised in the period from 27 January 2016 to 18 August 2016. RTX expect to use the full authorization given to repurchase shares for the maximum permitted value of DKK 35 mill in the period until the next Annual General Meeting in January 2017.
As of 26 August 2016, RTX holds 531,341 treasury shares of a nominal value of DKK 5, equal to 5.67% of outstanding shares.
The share buy-back programme runs from 26 August 2016 to 24 November 2016. In this period RTX will acquire shares with a value of up to DKK 10.0 million. The share buy-back programme is initiated and structured in compliance with the EU Commission Regulation No. 2273/2003 of 22 December 2003 (the so-called Safe Harbour Regulative for share buy-back programmes), and in accordance with the EU Commission Regulation No. 596/2014 of 16 April 2014 on market abuse (Market Abuse Regulation), which ensures that RTX is protected against violation of insider legislation in relation to the share buy-back programme.
Conditions for the share buy-back programme
- The purpose of the share buy-back programme is to address the company's capital structure and to hedge sharebased payments.
- RTX has entered into a contract with ABG Sundal Collier, in which ABG Sundal Collier acts as financial advisor and as Lead Manager of the programme. ABG Sundal Collier handles all purchase transactions independently and without influence from RTX.
- The maximum amount that RTX may pay for shares purchased under the share buy-back programme is DKK 10 mill. The authorisation of the annual general meeting gives RTX authority to own up to 10% of own shares.
- The shares cannot be purchased at prices exceeding the higher of (i) the price of the latest independent trade and (ii) the price of the highest independent bid on Nasdaq Copenhagen at the time of the transaction.
- The total number of shares that may be purchased on a single trading day may not exceed 25% of the average daily trading volume over the preceding 20 trading days on Nasdaq Copenhagen.
- RTX A/S will announce the number of purchased shares, as well as the value, on a weekly basis in a separate announcement to Nasdaq Copenhagen. In accordance with the EU Commission Regulation No. 596/2014, transactions related to the share buy-back programme will be presented in detailed form in a spread sheet attached to the weekly company announcement.
For further information please contact
CEO Jacob Vittrup, Phone: +45 9632 2300
Vedhæftede filer:
FB2016 59_UK Share repurchase programme.pdf