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SIMCORP A/S Initiates New Share Buyback Program


Wednesday, 27 Feb 2013 12:12pm EST 

SIMCORP A/S announced that the Company has initiated a new share buyback program for up to EUR 25.0 million, to be executed during the period from February 28, 2013 to August 26, 2013. The buyback program is being launched in accordance with the authorisation granted by the shareholders at the Annual General Meeting on March 29, 2012 to repurchase of up to 10% of the SIMCORP's share capital in the period until the next Annual General Meeting. The Company has appointed Nordea Bank Danmark A/S as lead manager of the buyback program. The purpose of the program is to reduce the share capital of SIMCORP and to meet the obligations arising from SIMCORP's incentive scheme. Maximum number of shares that can be bought is 1,800,000 shares of DKK 1 each. 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 program no shares will be purchased at a price exceeding the higher of the price of the last independent trade, and the highest current independent bid. 

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