World News: 09:01 GMT Thursday 12th July 2018. [Wolters Kluwer NV via Globe Newswire via SPi World News]
These share repurchases are part of the three-year share buyback program (2016-2018) originally announced on February 24, 2016. This buyback program includes repurchases made to offset annual incentive share issuance. The cumulative amounts repurchased under this three-year program are now as follows:
As stated on February 21, 2018, we intend to execute up to €400 million in share buybacks in 2018, including €200 million to mitigate the EPS dilution related to the sale of and . In addition, following the completion of the sale of on March 9, 2018, we also intend to deploy these proceeds of this sale (€150 million) towards additional share repurchases in 2018 and 2019 to mitigate the expected EPS dilution.
Current repurchases are being executed under a third party mandate granted on May 9, 2018. Under this mandate, €100 million of share buybacks will be executed in the period from May 10, 2018, up to and including July 30, 2018.
Share repurchases are made within the limits of relevant laws and regulations, in particular Regulation (EU) 596/2014) and Wolters Kluwer's Articles of Association. Repurchased shares are added to and held as Treasury shares and will be used for capital reduction purposes or to meet obligations arising from share-based incentive plans.
Further information is available on our website:
Wolters Kluwer reported 2017 annual revenues of €4.4 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries, and employs 19,000 people worldwide.
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 program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).
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This press release contains information which is to be made publicly available under Regulation (EU) 596/2014.
Globe Newswire: 09:01 GMT Thursday 12th July 2018
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