Wolters Kluwer today reports that it has repurchased 200,028 of its own ordinary shares in the period from September 21, 2017 up to and including September 27, 2017 for €7.6 million and at an average share price of €37.79.
These share repurchases are part of the three-year share buyback program (2016-2018) originally announced on February 24, 2016. The cumulative number of shares repurchased under this three-year program is as follows:
| Period | Cumulative shares repurchased in period | Total consideration (€ million) | Average share price (€) |
| 2017 to date | 5,744,561 | 215.2 | 37.46 |
| 2016 | 5,826,473 | 199.7 | 34.28 |
| Total | 11,571,034 | 414.9 | 35.86 |
On February 24, 2016, we announced our intention to repurchase up to €600 million in shares over the three-year period 2016-2018, including repurchases to offset share issuance related to incentive programs. On July 28, 2017, we increased this program by an additional €100 million in order to mitigate the earnings dilution expected from two divestments agreed in 2017 (Transport Services and certain U.K. publishing assets). Our intention remains to complete €300 million of share repurchases during 2017.
Current share repurchases are made on behalf of Wolters Kluwer by a third party to whom we have given a mandate to buy up to a maximum of €100 million in ordinary shares in the period from July 31, 2017 up to and including October 30, 2017.
On September 26, 2017, we granted a new mandate to another third party to buy shares on our behalf in the period starting November 2, 2017 up to and including February 19, 2018. Under this mandate, we intend to implement share buybacks of up to €50 million in the period from November 2, 2017 up until December 31, 2017, and a further up to €50 million in the period from January 1, 2018 up to and including February 19, 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 (EURONEXT: WKL) is a global leader in professional information, software solutions, and services for the healthcare, tax and accounting, financial and corporate compliance, legal and regulatory , and corporate performance and ESG sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.
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