UK-Regulatory: Tryg A/S launches share buy back programme of DKK 800 million


13.03.13 14:45
Meldung
 
Tryg A/S / Formal Notice13.03.2013 14:42Dissemination of a UK Regulatory Announcement, transmitted byDGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.
---------------------------------As stated in the 2012 Annual Report and in connection with the change in Tryg'scapital structure, the Tryg Group will launch an extraordinary share buy backprogramme of DKK 800m corresponding to 1.7m shares at the current rate. The share buyback programme is launched subject to the authorisation granted tothe Group's Supervisory Board by the Annual General Meeting on 15 April 2010.Tryg may purchase own shares up to 10% of the total share capital correspondingto 6,131,610 shares. The maximum number of shares, that can be purchased underthe programme, are 5,510,318 shares as Tryg by the implementation of the sharebuyback program owns 621,292 treasury shares. At a future annual generalmeeting, the Supervisory Board will propose that the purchased shares becancelled. The share buyback programme is launched and structured in compliance with theEU Commission Regulation no. 2273/2003 of 22 December 2003 (the so-called SafeHaven Regulation for share buy back), which ensures that the Group is protectedagainst violation of insider legislation in connection with a share buy backprogramme. The majority shareholder, TryghedsGruppen smba, who owns 60% of Tryg, hasagreed to participate pro rata in the share buy back programme. Hence, the freefloat of shares will continue to be 40%. The share buy back programmeThe share buy back programme is expected to be implemented from 15 March 2013to the end of the year 2013. Tryg has entered into a contract with Nordea Bank Danmark A/S (Nordea), inwhich Nordea as Lead Manager handles purchase of shares on behalf of Tryg.Nordea handles all purchase transactions independently of, and withoutinfluence by, Tryg. The pro rata buy back from TryghedsGruppen smba is planned in the way thatTryghedsGruppen smba on a daily basis will sell a number of Tryg shares settledat the volume weighed average purchase price of the shares purchased incompliance with the share buy back programme on the relevant day of trading,i.e. the owner's share of 60% is maintained. Tryg is entitled to stop the share buy back programme in the event ofsubstantial changes to the Group's business or changes to the market. If theprogramme is stopped prematurely, Tryg will immediately disclose this in anannouncement to Nasdaq OMX Copenhagen, and Nordea will refrain fromrepurchasing shares in the market and TryghedsGruppen smba shares. The following guidelines apply to Tryg's share buy back programme: -- The trading volume of own shares is limited to a total value of DKK 800m -- At the current rate per share, the maximum number of shares that may be repurchased is 1.7m shares, which is equivalent to 2,8% of Tryg's share capital. -- The daily volume of purchased shares cannot exceed 25% of the daily turnover on Nasdaq OMX Copenhagen and measured as an average of a period of running 20 trading days. -- Shares cannot be purchased at prices higher than the two following prices:- The price of the latest independent trade- The price of the highest independent bid on Nasdaq OMX Copenhagen.Tryg will announce the number of repurchased shares and the value of theseshares in a separate announcement to Nasdaq OMX Copenhagen at the beginning ofevery week. At the launch of the share buy back programme, Tryg had 621,292 treasury sharesor approx. 1% of the total share capital. These shares are for compliance ofemployees' share programmes. Read more about Tryg's dividend policy on:http://www.tryg.com/en/press/press-releases/2012/tryg_changes_dividend_policy.html Additional information:For further information visit www.tryg.com or contact Investor Relations; -- Investor Relations Director Lars Moeller on +45 44 20 45 17 or lars.moeller@tryg.dk -- Investor Relations Manager Peter Brondt on +45 22 75 89 04 or peter.brondt@tryg.dkTryg is the leading Nordic provider of 'peace of mind' solutions with property& casualty insurance operations in Denmark, Norway and Sweden. Tryg is listedon Nasdaq OMX Copenhagen and 60% of the shares are held by TryghedsGruppensmba.Click on, or paste the following link into your web browser, to view theassociated documentshttps://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=422857News Source: NASDAQ OMX13.03.2013 DGAP's Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de--------------------------------- Language: EnglishCompany: Tryg A/S . . . DänemarkPhone: .Fax: .E-mail: .Internet: .ISIN: DK0060013274Category Code: FONLSE Ticker: 0GBVSequence Number: 1371Time of Receipt: March 13, 2013 14:42:19 End of Announcement DGAP News-Service ---------------------------------


 

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