OTC buy-back of own shares – UPDATE OF TRANSACTION DETAILS 04.05
AS Ekspress Group organizes a buy-back of up to 500 000 own shares from shareholders until May 6, 2016 with the price of 1,30 Euros per share. Deadline for sales orders is May 6, 2016 at 16.00.
Sales orders can be given via internet banking system, using a form "transaction with third party".
Security (ISIN): Ekspress grupp (EE3100016965)
Transaction type: sell
Transaction processing: against payment
Price per unit: 1,30 euro
Name of third parties: EKSPRESS GRUPP AS
Third parties safekeeping account: 99101229416
Third parties safekeeping account holder: SEB Pank
Trade/transaction date: (date when transaction is given)
Value date: 11.05.2016
The Seller does not have a right to change or reclaim any sales order. Before giving your sales order please read the terms of share buy-back:
1. The purchase price is 1,30 Euros for one AS Ekspress Group share (hereinafter: Share).
2. All investors can sell their shares to the issuer under equal conditions, presenting their sales order through their account administration bank from May 2, 2016 10:00 until May 6, 2016 16:00 (hereinafter: Transaction period). The value date of the transaction is May 11, 2016. The issuer discloses the results of the buy-back program on May 9, 2016.
3. The sales order must state the number of Shares the investor (hereinafter: Seller) wishes to sell and it may not surpass 500 000 Shares. If the number of Shares stated in the transaction order is larger than 500 000, the the sales order is considered to be 500 000 Shares.
4. The Seller has the right to present several sales orders during the Transaction period. In case the Seller has presented several sales orders, the number of Shares expressed in them is summed according to the identification code (registry code /personal identification number /date of birth) and will be handled as one sales order for the summed number of Shares, providing that the Seller owns that amount of the Shares. The Seller does not have a right to reclaim any sales order.
5. In case all the Sellers combined wish to sell more than 500 000 Shares during the buy-back, the issuer purchases the Shares proportionally according to the following conditions. Every Seller, who wishes to sell less than 1000 shares, can sell all the Shares they wish to sell (hereinafter Guaranteed Part I). The Seller who wishes to sell more than 1000 shares, can sell 1000 Shares (hereinafter Guaranteed Part II), with the possible addition of the proportional part falling upon them (hereinafter Proportional Part).
6. The Proportional Part is formed as the following. The buy-back of the number of Shares guaranteed with the right to sell the Guaranteed Part I and Guaranteed Part II will be subtracted from the five hundred thousand. The result will be divided with the total number of Shares that are intended to be sold, subtracting the Guaranteed Parts I or II. The result will be multiplied with the number of Shares each Seller wishes to sell that surpasses the Guaranteed part II. The result of the calculation will be rounded up according to the rounding rules. The result will be the Proportional Part of the Seller. The surplus left as the result of the rounding will be divided between the Sellers randomly.
7. In case the sum of Guaranteed Part I and Guaranteed Part II surpasses 500 000 Shares, the Guaranteed Part II will be considered 100 Shares and Guaranteed Part I will be the full amount of Shares stated in the sales order however no more than 100 Shares. The rest of the Shares offered to be bought back will be diminished proportionally.
Chairman of the Management Board
GSM: +372 5188111