Temenos : announces launch of a CHF 150 million share buyback programme
October 31, 2017 at 02:13 am EDT
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GENEVA, Switzerland, 31 October 2017 - Temenos Group AG (SIX: TEMN), the software specialist for banking and finance, today announces that it will commence its share buyback programme, as announced in its press release of 18th October 2017.
The Group has received Swiss Takeover Board approval to purchase up to 1,500,000 of its shares for a maximum amount of CHF 150 million. This maximum amount of shares is equivalent to 2.12% of the registered share capital of the company.
The shares will be purchased in the open market between 1 November 2017 and no later than 28 December 2018. The repurchased shares will be used to cover future employee stock ownership plans and/or for potential acquisitions.
Buyback progress and the official buyback notices (French and German) can be found here:
2017 Share Buyback
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Temenos Group AG published this content on 31 October 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 31 October 2017 06:12:01 UTC.
Original documenthttps://www.temenos.com/en/news-and-events/news/20172/october/share-buyback-2017/
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Temenos AG, formerly Temenos Group AG, is a Switzerland-based company engaged in the development and marketing of banking software systems. Its services include implementation, performance optimization, integration, administration, maintenance, upgrades, training and support for its software solutions. It offers solutions for retail, corporate, universal, Islamic and microfinance and community banking sectors, as well as for Private Wealth Management. The Company's client base consists of mostly banking and other financial services institutions. Its core products are Temenos T24 Core Banking (T24), a front to back office, Customer Relationship Management (CRM) and product lifecycle management software platform, as well as Front Office, an integrated, role-specific, and multi-channel solution that supports banksâ daily interactions and long term relationships with their retail, corporate, mass affluent, and High-Net-Worth (HNW) customers. It offers also funds and securities solutions.