Alm. Brand A/S Share Buy-Back Program Update
Alm. Brand A/S has embarked on a robust share buy-back program to enhance shareholder value. Recently, the company revealed its intention to repurchase up to DKK 150 million in shares, which reflects a strategic move to strengthen its long-term growth prospects.
Overview of Transactions from 25 to 29 November
During the week of November 25 to November 29, 2024, Alm. Brand A/S executed significant transactions under the share buyback program. On August 15, 2024, the company initially announced the program, followed by a notable extension on November 7, 2024, increasing the total budget to DKK 220 million. This increase aims to accommodate purchases for the company's employee share scheme in the upcoming year. The buyback initiative is set to conclude on January 31, 2025.
Compliance with Regulations
These transactions comply with the relevant regulations established by the European Parliament and Council. Specifically, the initiative aligns with Regulation No 596/2014 and the Commission Delegated Regulation (EU) 2016/1052, often referred to as the Safe Harbour Regulations. This compliance emphasizes Alm. Brand A/S's commitment to maintaining regulatory standards while enhancing shareholder returns.
Details of Share Purchases
The share buy-back program's activity during week number 48 encapsulated a series of purchases that contributed to the company's capital management strategy. The transactions included:
Purchasing Summary for Week 48
During this week, the following numbers illustrate the total shares bought along with their average purchase prices:
- Accumulated shares from previous announcements: 10,253,659 shares at an average price of DKK 12.91, totaling DKK 132,363,890.
- November 25, 2024: Bought 180,556 shares at DKK 13.53, amounting to DKK 2,442,905.
- November 25, 2024: Another purchase of 266,020 shares at DKK 13.44, totaling DKK 3,575,016.
- November 27, 2024: Acquired 10,069 shares at DKK 13.30, bringing in DKK 133,919.
- November 28, 2024: Gained 161,370 shares at DKK 13.44 for a sum of DKK 2,168,861.
- November 29, 2024: Bought 52,972 shares at DKK 13.44, reaching DKK 712,161.
Total Buybacks for Week 48
In total, for week number 48, Alm. Brand A/S repurchased 670,987 shares at an average price of DKK 13.46, totaling DKK 9,032,862. With these additional transactions, the company now holds a total of 34,095,275 own shares, representing about 2.21% of its outstanding shares.
Conclusion and Future Steps
Alm. Brand A/S's share buy-back program exemplifies its dedication to boosting stockholder value and participating actively in the equity market. The alignment of its plans with regulatory protocols ensures a transparent and responsible approach. Stakeholders can look forward to continued updates as the buy-back program progresses.
Contact Information
If you have any questions regarding this announcement, please contact:
Head of IR, Rating, and ESG reporting
Mads Thinggaard
Mobile no. +45 2025 5469
Frequently Asked Questions
1. What is the purpose of Alm. Brand A/S's share buy-back program?
The program aims to enhance shareholder value and manage capital efficiently by repurchasing shares.
2. How much has Alm. Brand A/S allocated for the buy-back program?
The company has increased its buy-back budget to DKK 220 million.
3. When does the share buy-back program conclude?
The program is set to run until January 31, 2025.
4. How many shares has Alm. Brand A/S repurchased during week 48?
During week 48, a total of 670,987 shares were repurchased.
5. Who can be contacted for inquiries about the buy-back program?
Mads Thinggaard, Head of IR, can be contacted for any questions pertaining to this announcement.
