GENEVA, Switzerland, 12 June 2017 – Temenos Group AG (SIX: TEMN), the software specialist for banking and finance, today announces the early termination of its 2016 share buyback program.
Having reached its stated objective of repurchasing up to CHF 99 million (c. USD 100 million) of Temenos shares, the 2016 share buyback program initiated on 3 November 2016 is now complete. In total, 1,365,071 registered shares of the company were bought back at an average price per share of CHF 72.53 on the ordinary trading line on the SIX Swiss Exchange. These shares represent 1.96% of the company’s share capital as registered in the commercial register. The repurchased shares will be used to cover future employee stock ownership plans and/or for potential acquisitions.