DFDS A/S Announces Recent Share Buyback Activity Reports
DFDS A/S Initiates Strategic Share Buyback Program
On 9 February 2024, DFDS A/S (“DFDS”) made a notable announcement regarding its share buyback program. This initiative is structured in accordance with the EU Market Abuse Regulation, specifically under EU Regulation no. 596/2014 and the stipulated Safe Harbour Rules. This approach reflects DFDS's commitment to creating value for shareholders and enhancing their investment propositions.
Details of the Share Buyback Program
The share buyback program is designed to repurchase own shares with a financial cap of up to DKK 431 million. The timeframe for this program spans from 12 February 2024 to 31 December 2024, with the intent of acquiring a maximum of 3,400,000 shares. This initiative is particularly strategic as it includes buying shares under the Safe Harbour rules along with shares purchased from Lauritzen Fonden Holding ApS, aligned proportionately to other acquisitions outside these regulations.
Recent Transactions: September Activities
Analyzing the transactions conducted under this buyback program, DFDS completed several notable purchases from 9 September to 13 September 2024. The following provides a breakdown of these transactions:
- Accumulated Shares (last announcement): 1,606,112
- Transaction Details:
- 9 September 2024: 5,000 shares, Avg. purchase price: DKK 176, Total Value: DKK 878,500
- 10 September 2024: 5,000 shares, Avg. purchase price: DKK 175, Total Value: DKK 875,652
- 11 September 2024: 5,000 shares, Avg. purchase price: DKK 173, Total Value: DKK 867,000
- 12 September 2024: 5,000 shares, Avg. purchase price: DKK 175, Total Value: DKK 875,000
- 13 September 2024: 5,000 shares, Avg. purchase price: DKK 176, Total Value: DKK 881,000
The collective shares purchased during this timeframe totaled 25,000, bringing the total value to approximately DKK 4.38 million. Additionally, shares acquired from Lauritzen Fonden on 13 September amounted to 17,771 at an average price of DKK 175, totaling DKK 3,111,455.
Current Shareholding Position
As per the latest transactions, DFDS currently possesses a total of 3,309,396 treasury shares, which represent around 5.7% of the firm's overall share capital. This strategic holding exemplifies the company's commitment to optimizing shareholder value, set against a backdrop of robust fiscal management.
About DFDS A/S
DFDS operates an extensive transportation network across Europe, generating an annual revenue of DKK 28 billion. The company employs approximately 14,000 professionals to facilitate the movement of goods through trailers via ferry, road, and rail. In addition to cargo transportation, DFDS also provides ferry services for car and foot passengers on various routes within Europe.
Founded in 1866 and headquartered in Copenhagen, DFDS is not only a key player in logistics but also prides itself on exceptional service quality that keeps the operational framework responsive to market demands.
Frequently Asked Questions
What is a share buyback program?
A share buyback program is an initiative where a company repurchases its own shares from the marketplace, reducing the number of outstanding shares and often enhancing shareholder value.
How much does DFDS plan to spend on its buyback program?
DFDS has set a financial limit of up to DKK 431 million for its buyback program.
How many shares has DFDS repurchased so far?
As of the latest report, DFDS has repurchased a total of 3,309,396 shares.
What are the benefits of share buybacks for investors?
Share buybacks can lead to an increase in share value, as they reduce the supply of shares in the market. It can also indicate that a company believes its shares are undervalued.
What is the significance of the Safe Harbour Rules for DFDS?
The Safe Harbour Rules provide legal protection for companies when they conduct share buybacks, ensuring that these activities are executed in compliance with EU regulations.
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