GENEVA, Switzerland, 31 October 2017 – Temenos Group AG (SIX: TEMN), the software specialist for banking and finance, today announces that it will commence its share buyback programme, as announced in its press release of 18th October 2017.
The Group has received Swiss Takeover Board approval to purchase up to 1,500,000 of its shares for a maximum amount of CHF 150 million. This maximum amount of shares is equivalent to 2.12% of the registered share capital of the company.
The shares will be purchased in the open market between 1 November 2017 and no later than 28 December 2018. The repurchased shares will be used to cover future employee stock ownership plans and/or for potential acquisitions.