Temenos Group AG has announced the early termination of its 2017 share buyback programme.
The company said in a statement that having reached its stated objective of repurchasing up to CHF 150 million of Temenos shares, the 2017 share buyback programme initiated on 1 November 2017 is now complete.
In total, 1,227,804 registered shares of the company were bought back at an average price per share of CHF 122.17 on the ordinary trading line on the SIX Swiss Exchange.
These shares represent 1.73% 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