news and press Press releases a.s.r. repurchases shares for employee share plan
Press Utrecht 16 July 2019 17:45 EU/Amsterdam

a.s.r. repurchases shares for employee share plan

ASR Nederland N.V. (a.s.r.) announces a share plan for employees of a.s.r. and its wholly-owned subsidiaries. The share plan allows employees to enrol twice a year. The first opportunity will be on 23 August 2019. For this purpose a.s.r. will repurchase ordinary shares up to a maximum amount of € 12.5 million.

Employees of a.s.r. and its wholly-owned subsidiaries will be given the opportunity to enrol in shares of a.s.r. on the day of publication of the half-year and annual results. The first possibility will be on 23 August 2019.  

The Executive Board of a.s.r. considers it important to give employees the opportunity to participate in an employee share plan. Participation in the share plan is voluntary and does not form part of a.s.r.’s remuneration policy. 

Employees can enrol under the condition that the shares are blocked for five years, a so-called ‘lock-up’ period. The five year lock-up will give employees a fixed rebate of 18.5% on their share purchases, as determined by the Dutch tax authorities.

In order to be able to offer this share plan, a.s.r. will repurchase its own shares up to a maximum amount of € 12.5 million. The execution will be effected in the period from 17 July up to and including 22 August 2019. This falls within the authorisation of the General Meeting of Shareholders that was provided to the Executive Board on 22 May 2019. Based on the share price at the opening of 16 July of € 36.53, the maximum amount of shares that will be repurchased is 342.184. 

ABN AMRO Bank N.V. has been appointed by a.s.r. as independent broker for the execution of the repurchase plan. The exact timing of the purchases will be determined by ABN AMRO Bank N.V., independently and without interference from a.s.r. The execution of the repurchase plan depends on market conditions. 

The progress of the purchases by ABN AMRO Bank N.V. will be announced weekly in a press release and on the a.s.r. website at: www.asrnl.com/news-and-press/press-release.

 

Corporate Communication Financial results Human Resources