Overview of Danske Bank's Share Buy-Back Programme
Danske Bank A/S has recently launched an impressive share buy-back programme worth DKK 5.5 billion, with plans to repurchase up to 70 million shares. This initiative will run from early February until the end of January the following year, with the goal of increasing shareholder value.
Regulatory Guidelines for the Buy-Back
The execution of this programme adheres to the regulations established by the European Parliament and Commission, specifically Regulation (EU) No. 596/2014 and its associated delegated acts. Commonly referred to as the Safe Harbour Rules, this framework is designed to protect companies engaging in share buy-backs and to reduce market distortions.
Summary of Transactions for Week 35
During week 35, Danske Bank conducted several transactions as part of its ongoing buy-back strategy. These transactions are crucial as they contribute to the overall number of shares repurchased throughout the programme. Below is a summary of the transactions:
As reported previously, Danske Bank had already repurchased a total of 15,540,080 shares through its buy-back efforts, with a volume-weighted average price (VWAP) of DKK 201.8380. The total value of shares bought back up to that point was DKK 3,136,579,185.
Detailed Transactions for Week 35
The specific transactions completed during week 35 are outlined below:
- 26/08/2024: 98,000 shares at a price of DKK 206.0642, totaling DKK 20,194,292.
- 27/08/2024: 67,350 shares at a price of DKK 206.6566, totaling DKK 13,918,322.
- 28/08/2024: 102,836 shares at a price of DKK 206.4730, totaling DKK 21,232,857.
- 29/08/2024: 40,082 shares at a price of DKK 208.8352, totaling DKK 8,370,532.
- 30/08/2024: 53,006 shares at a price of DKK 210.0551, totaling DKK 11,134,181.
Throughout week 35, Danske Bank successfully acquired a total of 361,274 shares, achieving a VWAP of DKK 207.1840, which amounts to a gross value of DKK 74,850,184. In total, the bank has now repurchased 15,901,354 shares since the buy-back programme began.
Effect on Share Capital
With these recent transactions, the total shares acquired by Danske Bank under the programme now account for approximately 1.84% of its overall share capital. This strategic action is intended to bolster financial ratios and improve earnings per share for shareholders.
Conclusion
The share buy-back programme underscores Danske Bank's dedication to enhancing shareholder value through strategic financial actions. By continuing to repurchase shares, the bank showcases its strong confidence in its financial stability and future growth prospects.
Contact Information
If you have any further questions, please contact Stefan Singh Kailay, Group Press Officer, at +45 45 14 14 00.
Frequently Asked Questions
What is the purpose of Danske Bank's share buy-back programme?
The programme aims to enhance shareholder value by repurchasing shares, which can potentially increase earnings per share and support the share price.
How many shares has Danske Bank repurchased in total?
Currently, Danske Bank has repurchased a total of 15,901,354 shares as part of the buy-back programme.
What is the duration of the share buy-back programme?
The share buy-back programme is set to run from early February until the end of January next year, providing ample time for share repurchases.
Who can I contact for more information about the programme?
For further inquiries, you can reach out to Stefan Singh Kailay, the Group Press Officer, at +45 45 14 14 00 for detailed information.
What regulatory framework governs the share buy-back?
The programme operates under the regulations established by EU laws, including Regulation (EU) No. 596/2014, which is designed to protect market integrity.
