Wolters Kluwer announces that, in the course of executing on its share buyback program, the number of shares held in treasury has reached 14.5 million, or 5.01% of total issued ordinary shares (290.3 million). In accordance with regulatory requirements, the company has today notified the Dutch Authority for the Financial Markets (AFM).
Share repurchases are being made as part of the three-year (2016-2018) share buyback program originally announced in February 2016. This buyback program was subsequently expanded to include additional repurchases intended to mitigate dilution caused by non-core divestments made in 2017 and early 2018.
At the 2018 Annual General Meeting, shareholders approved a resolution to cancel for capital reduction purposes any or all ordinary shares held in treasury or to be acquired by the company as authorized by shareholders, up to a maximum of 10% of the issued share capital on April 19, 2018. As authorized by shareholders, the Executive Board has determined the number of ordinary shares to be cancelled is 10.6 million. Wolters Kluwer intends to cancel these shares in the second half of 2018. Part of the shares held in treasury will be retained and used to meet future obligations under share-based incentive plans.
Further information on our share buyback transactions can be found on our website www.wolterskluwer.com/investors.
About Wolters Kluwer
Wolters Kluwer N.V. (AEX: WKL) is a global leader in information, software solutions, and services for professionals in the health, tax and accounting, finance, risk and compliance, and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.
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).
This report contains forward-looking statements. These statements may be identified by words such as “expect”, “should”, “could”, “shall” and similar expressions. Wolters Kluwer cautions that such forward-looking statements are qualified by certain risks and uncertainties that could cause actual results and events to differ materially from what is contemplated by the forward-looking statements. Factors which could cause actual results to differ from these forward-looking statements may include, without limitation, general economic conditions; conditions in the markets in which Wolters Kluwer is engaged; behavior of customers, suppliers, and competitors; technological developments; the implementation and execution of new ICT systems or outsourcing; and legal, tax, and regulatory rules affecting Wolters Kluwer’s businesses, as well as risks related to mergers, acquisitions, and divestments. In addition, financial risks such as currency movements, interest rate fluctuations, liquidity, and credit risks could influence future results. The foregoing list of factors should not be construed as exhaustive. Wolters Kluwer disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Elements of this press release contain or may contain inside information about Wolters Kluwer within the meaning of Article 7(1) of the Market Abuse Regulation (596/2014/EU).