Amsterdam – Intertrust N.V. (“Intertrust” or “the Company”) [ticker symbol INTER], the leading global provider of high-value trust and corporate services, announces that it intends to repurchase up to 175,000 of its ordinary shares to cover an obligation to transfer shares to certain Intertrust employees as a result of the vesting of grants made pursuant to Intertrust’s Employee Stock Ownership Plan (“ESOP”).
The repurchase transactions may be effected between 26 September 2016 and 19 October 2016. The repurchase transactions will be effected under the authorisation granted by Intertrust’s general meeting of shareholders on 12 May 2016.
Intertrust will engage an independent broker to execute the repurchase transactions on its behalf and the transactions will be executed by such broker under the terms of an engagement letter. The timing of any repurchase transaction will be determined by the broker independently of, and without influence by, Intertrust.
The ordinary shares will be repurchased at a price that does not exceed a maximum of 110% of the average closing price of the last 5 trading days. The contemplated repurchase of the ordinary shares will be funded from Intertrust’s available cash resources.