On 28 August 2018, IC Group announced that it had initiated a share buy-back programme with the intention of acquiring up to 1,709,085 shares with a nominal value of DKK 10 each corresponding to 10% of the Company’s total share capital through an auction process during the period running from 28 August until 11 September 2018 at 4 p.m. The offer period has now expired and the accepted offers received have been calculated.
Based on this, the Board of Directors of IC Group has decided to make use of the authorization granted to them at the Annual General Meeting on 27 September 2017 and to buy back 1,448,494 shares at DKK 159 per share with a nominal value of DKK 10 each corresponding to a total acquisition price of DKK 230 million and to 8.5% of the Company’s total share capital.
Shareholders who have not indicated a minimum offer price, or who have indicated a minimum offer price less than or equal to the share buy-back price are settled fully. As communicated earlier, the Company’s majority shareholder; Friheden Invest, has not participated in the share buy-back programme.
The transaction date of the shares is expected to be on 13 September 2018, and the settlement of the share buy-back is expected to be completed on 17 September 2018 through the individual shareholder’s custodian bank or broker.
Upon completion of the share buy-back programme, the Company holds 1,897,551 treasury shares corresponding to 11.1% of the Company’s total share capital.
The Board of Directors will propose to have all of the Company’s treasury shares cancelled through a capital reduction at the Company’s next Annual General Meeting scheduled for 26 September 2018.
The remaining net proceeds from the divestment of Peak Performance of DKK 1,520 million will be distributed to the shareholders as extraordinary dividend based on the registered shareholdings as at 19 September 2018 after the daily update by VP Securities. The extraordinary dividend corresponds to DKK 100 per share as no extraordinary dividend will be paid on the Company’s treasury shares.
The share is traded exclusive of extraordinary dividend as at 18 September 2018, and payment of extraordinary dividend is expected to be effectuated on 20 September 2018 as communicated earlier.
IC Group A/S
Please direct any questions regarding this announcement to:
Head of Investor Relations
+45 21 28 58 32
This announcement is a translation from the Danish language. In the event of any discrepancy between the Danish and English versions, the Danish version shall prevail.