Home / Knowledge / News / Fashion / IC Companys begins share buyback
IC Companys begins share buyback
29
Feb '08
The previously announced share buyback for 2007/08 has commenced as planned. The total share buyback is expected to amount to approximately DKK 200 million in the period until 30 June 2008.

The share buyback will be effected within the authorisation given to the Board of Directors at the company's annual general meeting held on 24 October 2007 to acquire own shares up to 10% of the share capital.

The second share buyback programme amount s to DKK 90 million and is expected to be implemented in the period from 29 February 2008 to 15 May 2008.

The Programme is being implemented in accordance with the provisions of the European Commission's regulation no. 2273/2003 of 22 December 2003 which protects listed companies against violation of insider legislation in connection with share buybacks. The detailed terms of the share buyback are provided below.

IC Companys A/S has appointed SEB Enskilda as lead manager of the Programme. SEB Enskilda will, under a separate agreement with the company, buy back shares on behalf of IC Companys A/S and make decisions in respect of IC Companys A/S shares independently of and without influence from IC Companys A/S as to the timing of the purchases, and will complete the buyback within the mentioned framework of the Programme as set out in this announcement.

The purpose of the Programme is to reduce IC Companys' share capital. Accordingly, the Board of Directors will, not later than at the company's next annual general meeting, submit a proposal to reduce the share capital by a nominal amount that will, as a minimum, correspond to the nominal value of the share capital bought back under the Programme.

IC Companys has the right to discontinue the buyback during the term of the Programme in the event of material adverse changes in the company's financial position or material changes in the market.

In the event such a decision is made, IC Companys will make an announcement thereof. SEB Enskilda will then no longer be entitled to buy shares on behalf of IC Companys under the Programme in consequence of the termination of the Programme.

IC Companys A/S


Must ReadView All

Courtesy: Pexels

Textiles | On 19th Sep 2018

Punitive PRC tariffs on US goods has extra 5% on textiles

Responding to Washington’s latest duty increase in a dispute with...

Courtesy: Tecnorama

Textiles | On 19th Sep 2018

'Reliability & excellent quality are Tecnorama’s USP'

The complete reliability and excellent quality of Tecnorama systems...

Courtesy:  Stanislav Kondratiev on Unsplash

Apparel/Garments | On 19th Sep 2018

AAFA questions US tariffs on $200 bn Chinese goods

The American Apparel & Footwear Association (AAFA) has questioned...

Interviews View All

Victor Chao, Esmetex

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Neel Sawhney, One Friday

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Yashiki Gumber, Sahiba Fabrics

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

John Kelley,

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Sham Shah,

Sham Shah

Shamal and Shamal Pvt Ltd is into manufacturing and sales of textile...

Karen Lou,

Karen Lou

Australia-based Sunseeker has been creating swimwear since 1970. Sunseeker ...

Mark Paterson, Technical Absorbents Ltd

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search