Wolters Kluwer announces the conclusion of its share buy-back program, as the company now holds ten percent of its outstanding shares.
Amsterdam (December 20, 2007) - Wolters Kluwer, a leading global information services and publishing company, today ends its €175 million share buy-back program announced on November 7, 2007, as the company now holds ten percent of its outstanding shares. Wolters Kluwer returned €170 million to shareholders through this share buy-back program. This share buy-back program was above and beyond the completed share buy-back program of €475 million that was announced on March 26, 2007.
During the period from November 9, 2007 until and including December 20, 2007, Wolters Kluwer, through the mandated bank ING Wholesale Banking, repurchased 7,887,335 of its ordinary shares, representing approximately 2.5% of its outstanding shares. Shares were repurchased at an average price of €21.60 for a total amount of €170 million, and this finalizes the share buy-back program according to plan. Wolters Kluwer now holds 31.2 million of its own shares, representing approximately 10% of its outstanding shares, which is the statutory maximum percentage of shares that the company may hold.
It is Wolters Kluwer's intention to cancel the greater part of the shares acquired through the share buy-back programs, and to potentially use a smaller part of the shares acquired through the share buy-back programs to cover its obligations to grant performance shares under the company's long term incentive plans.
For more information, visit www.wolterskluwer.com