Alm. Brand A/S Share Buy-Back Program Overview
Alm. Brand A/S is actively engaging in a robust share buy-back program designed to enhance shareholder value and support its employee share scheme. This strategic initiative has attracted significant attention, particularly due to its comprehensive structure and efficient execution. The program, which aims to repurchase shares worth DKK 220 million, signifies the company's commitment to solidifying its market standing and investor relations.
Recent Developments in Share Buybacks
In the latest announcement, Alm. Brand A/S confirmed an increase to its existing share buy-back program, which was originally valued at DKK 150 million. This increase of DKK 70 million reflects a proactive approach to share management, ensuring sufficient resources are allocated for the employee share scheme set for 2025. Moreover, the extension of the program until the end of January 2025 shows a long-term strategy focused on market stability and enhanced shareholder trust.
Compliance with Regulations
The execution of this program is aligned with the regulations set forth by the European Parliament and Council, specifically Regulation No 596/2014 and the Commission Delegated Regulation (EU) 2016/1052. Adhering to these Safe Harbour Regulations emphasizes Alm. Brand A/S's commitment to responsible financial practices while pursuing its growth objectives.
Share Buyback Transactions Overview
During the week of November 11 to 15, the company undertook a series of transactions within its share buyback initiative. These transactions demonstrate a significant commitment toward enhancing the company's equity structure. The following details outline the transactions that occurred:
Weekly Transaction Summary
Throughout this week, Alm. Brand A/S bought back a total of 972,946 shares, accumulating a total of 9,507,771 shares since the program's inception. The average purchase price was reported at 13.23 DKK, amounting to a total financial outlay of 12,875,738 DKK for this week alone. Breaking down the transactions provides a clearer view of the program's impact:
Summary of Transactions from November 11 to 15:
- **Accumulated Total (Prior to Week):**
8,534,825 shares bought at an average price of 12.84 DKK, resulting in a total of 109,608,648 DKK spent.
- **Specific Daily Breakdowns:**
- **November 11:** 305,000 shares at 13.48 DKK
- **November 12:** 299,748 shares at 13.15 DKK
- **November 13:** 282,229 shares at 13.06 DKK
- **November 14:** 1,000 shares at 13.25 DKK
- **November 15:** 84,969 shares at 13.25 DKK
Ownership and Market Standing
With these transactions, Alm. Brand A/S is now in possession of a total of 34,235,715 self-owned shares, accounting for 2.22% of the outstanding shares in the market. This increase in share ownership highlights the company's solidified position within the finance sector and its strategic approach to market engagement.
Contact Information
For any inquiries regarding this announcement, please reach out to the Head of IR, Rating and ESG Reporting:
Mads Thinggaard
Mobile: +45 2025 5469
Frequently Asked Questions
What is the purpose of Alm. Brand A/S's share buy-back program?
The program aims to enhance shareholder value, support employee share schemes, and strengthen the company's overall market position.
How much has Alm. Brand A/S allocated for its share buy-back program?
Initially, DKK 150 million was allocated, which was later increased by DKK 70 million to a total of DKK 220 million.
What was the total number of shares bought back during the week of November 11 to 15?
During that week, a total of 972,946 shares were purchased.
How does Alm. Brand A/S ensure compliance with regulations during its buy-back program?
The company adheres to the European regulation guidelines, particularly MAR and the Safe Harbour Regulations, ensuring responsible and transparent practices.
What is the current ownership percentage of Alm. Brand A/S after recent buy-backs?
After the recent buy-back transactions, Alm. Brand A/S holds 34,235,715 shares, equating to 2.22% of the total outstanding shares.
