Overview of Danske Bank's Share Buy-Back Programme
Danske Bank A/S has launched an extensive share buy-back programme worth DKK 5.5 billion, with plans to repurchase up to 70 million shares. This initiative began on 5 February 2024 and is expected to wrap up by 31 January 2025, as outlined in the company's announcements.
Regulatory Framework for Share Buy-Back
The share buy-back programme adheres to Regulation (EU) No. 596/2014, which was enacted by the European Parliament, along with the Commission’s delegated regulation (EU) 2016/1052. These regulations, known as the Safe Harbour Rules, establish a framework that ensures transparency and safeguards the interests of shareholders throughout the buy-back process.
Weekly Transactions Report
In line with the ongoing share buy-back programme, transactions from week 34 have been recorded. The cumulative transactions are as follows:
Transaction Details for Week 34
For the week ending, the total transactions revealed an accumulation of shares along with their pricing details. Here’s the information:
Accumulated Shares Summary:
As previously documented, a total of 15,185,431 shares have been accumulated, with a volume-weighted average price (VWAP) of 201.7720 DKK, resulting in a gross value of approximately 3,063,994,101 DKK.
The specific transactions during week 34 are as follows:
- 19 August 2024: 25,000 shares at a VWAP of 205.8176 DKK.
- 20 August 2024: 75,000 shares at a VWAP of 204.9170 DKK.
- 21 August 2024: 89,649 shares at a VWAP of 203.8361 DKK.
- 22 August 2024: 115,000 shares at a VWAP of 204.1834 DKK.
- 23 August 2024: 50,000 shares at a VWAP of 206.3215 DKK.
Total Accumulated for Week 34
The total number of shares accumulated for week 34 reached 354,649 shares, with an overall VWAP of 204.6674 DKK, leading to a gross purchase value of 72,585,084 DKK.
Impact of Transactions on Share Capital
Following the recent transactions, the total shares repurchased under the current buy-back programme now represent approximately 1.80% of Danske Bank A/S's total share capital. This initiative underscores Danske Bank's commitment to enhancing shareholder value while maintaining flexibility in its capital structure.
Conclusion and Contact Information
To ensure compliance with all regulations and maintain transparency, Danske Bank will continue to provide updates on its share buy-back activities. For more information, investors can reach out to:
Stefan Singh Kailay
Group Press Officer
Tel. +45 45 14 14 00
Frequently Asked Questions
What is the purpose of Danske Bank's share buy-back programme?
The purpose of the share buy-back programme is to return capital to shareholders while effectively managing the bank's capital structure.
How much has Danske Bank allocated for the buy-back programme?
Danske Bank has set aside a total of DKK 5.5 billion for the buy-back of up to 70 million shares.
What regulatory framework governs the buy-back transactions?
The buy-back transactions are governed by Regulation (EU) No. 596/2014 and the Commission’s delegated regulation (EU) 2016/1052.
What percentage of share capital is represented by the bought-back shares?
The shares that have been bought back account for approximately 1.80% of Danske Bank A/S's total share capital.
Who can investors contact for more information regarding the programme?
Investors can reach out to Stefan Singh Kailay, the Group Press Officer, for any questions related to the buy-back programme.
