GENEVA, Switzerland, 22 May 2018 – Temenos AG (SIX: TEMN), the banking software company, today announces that it will commence its share buyback programme, as proposed in its press release of 20th April 2018.
Temenos AG has received Swiss Takeover Board approval to purchase up to 2,100,000 of its shares for a maximum amount of USD 250 million, equivalent to CHF 250 million. This maximum amount of shares is equivalent to 2.96% of the registered share capital of the company.
The shares will be purchased in the open market between 23 May 2018 and no later than 30
December 2019. The repurchased shares will be used for potential acquisitions and/or to cover future employee stock ownership plans.