SimCorp A/S – New Share Buyback Programme

SimCorp A/S (“SimCorp”) has today initiated a share buyback programme for up to EUR 25.0 million, to be executed during the period from 28 February to 26 August 2013.

The buyback programme is being launched in accordance with the authorisation granted by the shareholders at the Annual General Meeting on 29 March 2012 to repurchase of up to 10% of the SimCorp’s share capital in the period until the next annual general meeting.

The buyback programme will be structured in compliance with the rules of Commission Regulation No. 2273/2003 of 22 December 2003, which provides protection against violation of insider trading legislation in connection with the execution of the buyback.

SimCorp has appointed Nordea Bank Danmark A/S as lead manager of the buyback programme for EUR 25.0 million. Under the agreement Nordea Bank Danmark A/S will purchase shares on behalf of SimCorp and will make its trading decisions independently of, and without influence by, SimCorp.

The buyback programme is subject to the following terms:

  • The purpose of the programme is to reduce the share capital of SimCorp and to meet the obligations arising from SimCorp’s incentive scheme
  • Total purchases of own shares will be limited to a total market value of EUR 25.0 million
  • Maximum number of shares that can be bought is 1,800,000 shares of DKK 1 each
  • Execution of the buyback will take place from 28 February to 26 August 2013
  • Maximum number of shares to be purchased in SimCorp per daily market session will be the equivalent to 25% of the average volume of SimCorp shares traded on NASDAQ OMX Copenhagen during the preceding 20 business days
  • During the life of the buyback programme no shares will be purchased at a price exceeding the higher of the following two prices on NASDAQ OMX Copenhagen:

                  1.  The price of the last independent trade, and
                  2.  The highest current independent bid

Details of transactions executed under the buyback programme will be publicly disclosed on not later than the end of the seventh daily market session.

Enquiries regarding this announcement should be addressed to:
Thomas Johansen, Chief Financial Officer, SimCorp A/S (+45 3544 8800, +45 2811 3828)
Klaus Holse, Chief Executive Officer, SimCorp A/S (+45 3544 8802, +45 2326 0000)

Company Announcement no. 14/2013