Delta Lloyd Group announces a share buy-back programme starting on 11 June 2010.
Delta Lloyd Group announces a share buy-back programme starting on 11 June 2010. The share buy-back plan (1,650,000 shares) will be executed for the sole purpose of meeting the obligations under management equity incentive schemes.
The programme will be executed in accordance with the mandate given to the Executive Board by the Annual General Meeting of Shareholders on 27 May 2010 to buy back ordinary shares. Within the limits set at that meeting the on-exchange transactions may not be carried out at a price above the highest of the price of the last independent trade and the highest current independent bid on NYSE Euronext Amsterdam.
The maximum on-exchange trading volume in any one day will not be more than 292,531 ordinary shares, ie 25% of the average daily trading volume on NYSE Euronext Amsterdam in May 2010 (1,170,123 shares).
The share buy-back programme will terminate on 31 December 2010 at the latest, unless extended after a new press release to that effect. Progress of trading will be disclosed in a press release no later than seven days after each transaction. Termination of the programme will be disclosed immediately.
Delta Lloyd Asset Management will execute the share buy-back programme. There will be no trading during Delta Lloyd's closed periods and no ordinary shares in Delta Lloyd will be sold during the programme.
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About Delta Lloyd Group
Delta Lloyd Group is a financial services provider offering life insurance, general insurance, fund management and banking products and services. Delta Lloyd Group’s target markets are the Netherlands and Belgium. In the Netherlands it mainly operates under the brand names of Delta Lloyd, OHRA and ABN AMRO Insurance, in Belgium under the Delta Lloyd brand.