Coloplast A/S - Announcement no. 2/2020 - Share Buyback Programme
21 February 2020
Coloplast A/S initiates DKK 500 million share buyback programme
Coloplast A/S (“Coloplast” or the “Company”) is initiating a share buyback programme totalling up to DKK 500 million, as announced in the Company Announcement no. 01/2020 of 6 February 2020. The programme will commence on 24 February 2020 and is expected to end by 24 August 2020.
The share buy-back programme is being launched within the authority granted by the shareholders at the Annual General Meeting on 5 December 2019, for the repurchase of up to 10% of the Company’s share capital, provided that the Company’s total holding of treasury shares does not exceed 10% of the Company’s share capital at any time.
The share buyback programme is carried out in accordance with Article 5 of Regulation No 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052, also referred to as the Safe Harbour Regulations with the purpose of meeting obligations arising from share options programmes or other allocation of shares to employees or to complete a share capital decrease as set out in Articles 5(2)(a) and 5(2)(c) in MAR.
The Company has retained Danske Bank A/S (“Danske Bank”) to act as manager of the share buyback programme and purchase shares on behalf of Coloplast. Danske Bank has also agreed under the contract to make its trading decisions in relation to the shares in the Company independently of, and without influence by, the Company.
Coloplast is entitled to discontinue the share buyback programme at any time. If the Company decides to discontinue the programme, such a decision will be disclosed to the public through a company announcement. If discontinued, Danske Bank will no longer be entitled to purchase shares in Coloplast on behalf of the Company.
The DKK 500 million share buyback programme is subject to the following terms:
- The programme will commence on 24 February 2020 and is expected to end by 24 August 2020.
- The volume of trading in own shares will be limited to a maximum total market value of DKK 500 million.
- The maximum number of shares to be purchased in the company per daily market session will be the equivalent to 25% of the average volume of shares in the Company traded on Nasdaq Copenhagen A/S during the preceding 20 business days.
- During the life of the share buyback programme no shares will be purchased at a price exceeding the higher of the following two prices:
i) the price of the last independent trade on Nasdaq Copenhagen A/S and
ii) the highest current independent bid on Nasdaq Copenhagen A/S.
Details of transactions executed under the share buyback programme will be disclosed to the market in accordance with the Safe Harbour Regulation and will be publicly disclosed on the company’s website at least once every seventh trading day.
Prior to the launch of the share buyback programme Coloplast A/S holds 3,239,498 treasury shares, equal to 1.5% of the company’s share capital.
Anders Lonning-Skovgaard
Executive Vice President, CFO
For more information, please contact:
Investors and analysts
Anders Lonning-Skovgaard
Executive Vice President, CFO
Tel.
Ellen Bjurgert
Vice President, Investor Relations
Tel. / 4911 3376
E-mail
Rasmus Sørensen
Senior Manager, Investor Relations
Tel. / 4911 1786
E-mail
Press and the media
Lina Danstrup
Senior Media Relations Manager, Corporate Communications
Tel.
E-mail
Website
Address
Coloplast A/S
Holtedam 1
DK-3050 Humlebæk
Denmark
Business reg. (CVR) no. 69749917
This announcement is available in a Danish and an English language version. In the event of discrepancies, the Danish version shall prevail.
The Coloplast logo is a registered trademark of Coloplast A/S. © 2020-02 All rights reserved. Coloplast A/S, 3050 Humlebæk, Denmark.
Coloplast develops products and services that make life easier for people with very personal and private medical conditions. Working closely with the people who use our products, we create solutions that are sensitive to their special needs. We call this intimate healthcare.
Our business includes Ostomy Care, Interventional Urology, Continence Care and Wound and Skin Care. We operate globally and employ about 12,000 people.
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