Danske Bank's Strategic Move: Share Buy-Back Insights
Overview of Danske Bank's Share Buy-Back Programme
Danske Bank A/S has embarked on a significant share buy-back programme, aiming to enhance shareholder value. The initiative, announced on February 2, 2024, entails a buy-back of shares amounting to DKK 5.5 billion, with plans to repurchase a maximum of 70 million shares. This programme is set to run from February 5, 2024, until January 31, 2025, highlighting Danske Bank's commitment to returning capital to its shareholders.
Regulatory Framework
This share buy-back is being executed in accordance with Regulation (EU) No. 596/2014 from the European Parliament, coupled with the Commission’s delegated regulation (EU) 2016/1052, commonly referred to as the Safe Harbour Rules. These regulations allow companies like Danske Bank to carry out share buy-backs without the risk of market manipulation
Detailed Transactions from Week 36
During week 36, Danske Bank carried out several transactions under the buy-back programme. The details are as follows:
Transaction Overview
In total, 474,814 shares were repurchased throughout the week. The average weighted price of these transactions was 208.7937 DKK, leading to a gross value of approximately 99,138,163 DKK. This reflects a steady commitment to optimizing share capital management.
Daily Breakdown of Transactions
A closer look at the daily transactions reveals the following:
- September 2: 30,902 shares at 211.4173 DKK each.
- September 3: 115,000 shares at 209.2379 DKK each.
- September 4: 103,699 shares at 207.9780 DKK each.
- September 5: 60,000 shares at 210.9382 DKK each.
- September 6: 165,213 shares at 207.7269 DKK each.
As a result of these actions, the accumulated number of shares bought back under this programme has risen to approximately 1.90% of Danske Bank’s total share capital. This marks a significant stride in Danske Bank's effort to deliver stronger returns.
Summary of Total Accumulation
With the execution of the share buy-back programme, Danske Bank has now successfully repurchased a total of 16,376,168 shares, reflecting a gross value of 3,310,567,532 DKK at an average price of 202.1576 DKK. These numbers illustrate the substantial impact that this programme will have on the bank's equity structure.
Contact Information
For inquiries, individuals can reach out to Stefan Singh Kailay, Group Press Officer at +45 45 14 14 00 for further information regarding the share buy-back programme.
Frequently Asked Questions
What is the purpose of Danske Bank's share buy-back programme?
The programme aims to return capital to shareholders and improve shareholder value by repurchasing a significant portion of shares from the market.
How does the buy-back programme comply with regulatory standards?
It adheres to Regulation (EU) No. 596/2014 and the Commission’s delegated regulation (EU) 2016/1052, which are designed to prevent market manipulation.
What is the financial impact of the share buy-back so far?
As of now, Danske Bank has repurchased 16,376,168 shares, with a total gross value of approximately 3.31 billion DKK, impacting roughly 1.90% of its total share capital.
What was the average price for shares bought back this week?
The average weighted price for shares repurchased during week 36 was 208.7937 DKK.
Who can I contact for more information about the buy-back programme?
Stefan Singh Kailay, the Group Press Officer, can provide additional insights and details about the programme.
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