Vistaprint 2015 Annual Report Download - page 36

Download and view the complete annual report

Please find page 36 of the 2015 Vistaprint annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 160

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160

28
PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases
of Equity Securities
The ordinary shares of Cimpress N.V. are traded on the NASDAQ Global Select Market (the "NASDAQ")
under the symbol “CMPR.” As of July 31, 2015, there were approximately 15 holders of record of our ordinary
shares, although there is a much larger number of beneficial owners. The following table sets forth, for the periods
indicated, the high and low sale price per share of our ordinary shares on the NASDAQ:
High Low
Fiscal 2014:
First Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 56.78 $ 48.37
Second Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 57.66 $ 51.92
Third Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 55.20 $ 46.95
Fourth Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 53.42 $ 38.58
Fiscal 2015:
First Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 55.06 $ 37.05
Second Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 76.68 $ 52.13
Third Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 86.78 $ 67.41
Fourth Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 91.75 $ 79.81
Dividends
We have never paid or declared any cash dividends on our ordinary shares, and we do not anticipate
paying any cash dividends in the foreseeable future. We currently intend to retain all future earnings to finance the
growth and operations of our business, purchase our ordinary shares, or pay down our debt. Under Dutch law, we
may pay dividends only out of profits shown on our annual accounts prepared in accordance with Dutch generally
accepted accounting principles and adopted by our shareholders, and only to the extent our equity exceeds the
sum of the paid and called up portion of our ordinary share capital and the reserves that must be maintained in
accordance with provisions of Dutch law and our articles of association.
Issuer Purchases of Equity Securities
On December 11, 2014, in order to provide us with flexibility to repurchase our ordinary shares at times
when our management believes it may be beneficial for our business, our Supervisory Board authorized the
repurchase of up to 6,400,000 of our issued and outstanding ordinary shares on the open market (including block
trades that satisfy the safe harbor provisions of Rule 10b-18 pursuant to the U.S. Securities Exchange Act of 1934),
through privately negotiated transactions, or in one or more self-tender offers. This share repurchase authorization
expires on May 12, 2016, and we may suspend or discontinue the repurchase program at any time. Our
Supervisory Board approved this repurchase program pursuant to the authorization we received from our
shareholders in November 2014.
We did not repurchase any shares during the three months ended June 30, 2015, and 6,400,000 shares
remain available for repurchase under this program, subject to certain limitations imposed by our debt covenants.