TMG Share buy-back
TMG announces the start of a share buy-back programme as authorised by TMG’s Annual General Meeting of shareholders (AGM). The purpose is to lower the issued capital by cancelling the shares bought.
At TMG’s AGM of 28 April 2011 the Executive Board has been authorised to buy-back listed and unlisted shares as well as depositary receipts issued for such shares for a price not lower than their nominal value and not higher than 10% above their average closing price on the five trading days before the share buy-back, such to a maximum of 10% of the issued capital.
TMG authorised as per tomorrow and for the time being a stock broker to buy back a maximum of 5% (2,387,500 shares) of the issued capital. This authorisation also allows for buy-backs during so-called closed periods.
In accordance with pertaining regulations TMG will issue updates regarding the status of the programme via www.tmg.nl if applicable.
For the status of the share buy-back programme click here.