Intertrust intends to repurchase shares Amster
Post# of 301275
Amsterdam - March 22, 2017 - Intertrust N.V. ("Intertrust" or "the Company") [ticker symbol INTER], the leading global provider of high-value trust, corporate and fund services, announces that it intends to repurchase up to 1,856,354 of its ordinary shares to cover a deferred obligation to transfer shares to certain members of the former management team of Elian as part of the consideration for the acquisition of the Elian Group which was completed in September 2016. It will also cover an obligation to transfer shares to certain Elian employees as a result of the vesting of grants made pursuant to Intertrust's Employee Stock Ownership Plan 2016.
The repurchase transactions may be effected between 22 March 2017 and 6 October 2017. The repurchase transactions will be effected under the authorisation granted by Intertrust's General Meeting of shareholders on 12 May 2016. Intertrust has engaged an independent broker, Kempen & Co, 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 five trading days immediately preceding the date of repurchase. The contemplated repurchase of the ordinary shares will be funded from Intertrust's available cash resources.
For further information Intertrust N.V. annelouise.metz@intertrustgroup.com Anne Louise Metz Tel: +31 20 577 1157 Director of Investor Relations, Marketing & Communications
About Intertrust Intertrust is the leading global provider of high-value trust, corporate and fund services, with approximately 2,500 employees located throughout a network of 41 offices in 30 jurisdictions across Europe, the Americas, Asia and the Middle-East. The Company delivers high-quality, tailored services to its clients with a view to building long-term relationships. Intertrust's business services offering is comprised of corporate services, fund services, capital market services, and private wealth services. Intertrust has leading market positions in the key geographic markets of its industry, including the Netherlands, Luxembourg, Jersey, and the Cayman Islands. Intertrust works with global law firms and accountancy firms, multi-national corporations, financial institutions, fund managers, high net worth individuals and family offices.
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