Copenhagen, 2016-03-02 07:59 CET (GLOBE NEWSWIRE) -- No. 3/2016 ISS A/S (ISS.CO, ISS DC), a leading global provider of facility services, today announced that the Board of Directors of ISS A/S has decided to initiate a share buyback programme of up to DKK 150 million with the sole purpose of hedging obligations arising from ISS’s share based incentive scheme (LTIP). The share buy-back programme is initiated pursuant to the authorisation to acquire treasury shares granted to the Board of Directors by the general meeting on 15 April 2015. The authorisation is valid until 30 April 2016 and allows for acquisition of treasury shares with a total nominal value of up to 10% of ISS’s share capital. The programme will end no later than 30 April 2016. The share buyback programme will be executed in accordance with the provisions of the EU Commission Regulation (EC) no. 2273/2003 of 22 December 2003, as amended (the Safe Harbour Regulation). ISS has appointed Nordea Bank Danmark A/S (“Nordea”) as lead manager of the programme. Nordea will, under a separate agreement with ISS, buy back shares on behalf of ISS and make trading decisions in respect of ISS shares independently of and without influence from ISS. The share buyback programme will be implemented under the following terms: -- The maximum total consideration for ISS shares purchased during the period of the programme is DKK 150 million. -- The maximum number of ISS shares to be purchased during the period of the programme is 700,000. -- The maximum number of shares that may be purchased per daily market session cannot exceed 25% of the average daily volume of ISS shares traded on Nasdaq Copenhagen during the preceding 20 trading days. -- Shares cannot be bought back at a price higher than: a) The price of the latest independent trade, and b) The price of the current highest independent bid on Nasdaq Copenhagen. On a weekly basis ISS will announce transactions made under the share buyback programme in accordance with reporting obligations under the Safe Harbour Regulation. ISS may terminate the programme at any time, which shall be announced through Nasdaq Copenhagen. In the event such decision is made, Nordea will no longer be authorised to buy back shares on behalf of ISS. At the time of this announcement, ISS holds 1,777,475 treasury shares corresponding to 0.96% of the total share capital of the Company. For investor enquiries Nicholas Ward, Head of Group Investor Relations, +45 3817 6251 Martin Kjær Hansen, Investor Relations Manager, +45 3817 6431 For media enquiries Manuel Vigilius, Global Media Relations Manager, +45 3817 6404 About ISS The ISS Group was founded in Copenhagen in 1901 and has grown to become one of the world’s leading Facility Services companies. ISS offers a wide range of services such as: Cleaning, Catering, Security, property and Support Services as well as Facility Management. Global revenue amounted to DKK 79.6 billion in 2015 and ISS has approximately 505,000 employees and activities in more than 75 countries across Europe, Asia, North America, Latin America and Pacific, serving thousands of both public and private sector customers. For more information on the ISS Group, visit www.issworld.com. ISS A/S, ISIN DK 0060542181, ISS Global A/S, ISIN XS114552658, ISIN XS1330300341, ISIN XS1145526825