Ontex announces transactions in own shares
Aalst-Erembodegem (Belgium), 23 June 2017 – Ontex Group NV (“Ontex”) hereby announces, in accordance with applicable rules, that it has acquired 274,439 of its own shares on 22 June 2017 as a result of the partial exercise of a forward purchase agreement.
Ontex has exercised the relevant forward purchase agreement in order to meet its obligation to deliver its own shares under grants made under its Long-Term Incentive Plan (LTIP) in 2014.
The grants made by Ontex under its LTIP typically consist of Restricted Stock Units (RSU) and stock options and provide for a three-year vesting period.
Accordingly, the grants that were made in 2014 are scheduled to vest as from 31 July 2017. In order to meet its obligations thereunder, Ontex has partially exercised a forward purchase agreement with the following characteristics:
In addition, Ontex has entered into the following forward purchase agreements in order to hedge its obligations under grants made under its LTIP in 2015, 2016 and 2017. These consist of (i) one-year forward purchase agreements entered into in 2015 and 2016 which have been extended on 22 June 2017 to cover its future delivery obligations under grants made under its 2015 and 2016 LTIP and (ii) a new one-year forward purchase agreement entered into on 22 June 2017 to cover its future delivery obligations under grants made under its 2017 LTIP.
As of today, the following purchase agreements are outstanding in respect of Ontex’s own shares:
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