Wolters Kluwer Share Buyback Execution Update
March 9, 2017 - Wolters Kluwer announces that it has committed itself to the repurchase of ordinary shares for a maximum total consideration of €50 million by engaging a third party to execute transactions on its behalf in the period starting March 9, 2017 up to and including May 8, 2017.
These share repurchases, which are part of the three-year (2016-2018) up to €600 million buyback program announced on February 24, 2016, will be used for capital reduction purposes or to meet obligations arising from share based incentive plans. The total number of shares repurchased under the up to €600 million buyback program to date is 7.2 million (€250 million), including 1.4 million (€50 million) in 2017 to date.
Any share purchases will be made within the limits of relevant laws and regulations (in particular Regulation (EU) 596/2014) and Wolters Kluwer's Articles of Association.
About Wolters Kluwer
Wolters Kluwer is a global leader in information services and solutions for professionals in the areas of health, tax & accounting, finance, risk & compliance, and legal. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.
Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,000 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.
Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt (ADR) program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).
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Forward-looking Statements and Other Important Legal Information
This report contains forward-looking statements. These statements may be identified by words such as "expect", "should", "could", "shall" and similar expressions. Wolters Kluwer cautions that such forward-looking statements are qualified by certain risks and uncertainties that could cause actual results and events to differ materially from what is contemplated by the forward-looking statements. Factors which could cause actual results to differ from these forward-looking statements may include, without limitation, general economic conditions; conditions in the markets in which Wolters Kluwer is engaged; behavior of customers, suppliers, and competitors; technological developments; the implementation and execution of new ICT systems or outsourcing; and legal, tax, and regulatory rules affecting Wolters Kluwer's businesses, as well as risks related to mergers, acquisitions, and divestments. In addition, financial risks such as currency movements, interest rate fluctuations, liquidity, and credit risks could influence future results. The foregoing list of factors should not be construed as exhaustive. Wolters Kluwer disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
This press release contains information which is to be made publicly available under Regulation (EU) 596/2014.
Source:Wolters Kluwer NV