DFDS A/S Enhances Shareholder Value Through Buyback Plan
DFDS A/S Initiates Strategic Share Buyback Program
On February 9, 2024, DFDS A/S, a well-known leader in European transport and logistics, revealed its decision to launch a share buyback program aimed at enhancing shareholder value. This initiative will comply with the European Market Abuse Regulation and the Safe Harbour Rules, established within EU regulations. The endeavor highlights DFDS's commitment to creating long-term value for its stakeholders.
Details of the Repurchase Plan
The share buyback program permits DFDS to repurchase shares worth up to DKK 431 million, scheduled to be executed from February 12, 2024, to December 31, 2024. The maximum quantity of shares earmarked for repurchase is set at 3,400,000. This effort includes not only those purchases made under the Safe Harbour Rules but also shares obtained through a pro-rata agreement with Lauritzen Fonden Holding ApS for shares previously purchased outside these regulations.
Transaction Updates: 16-20 September
As part of the buyback initiative, DFDS engaged in several transactions between September 16 and September 20, 2024. The following details showcase the progress during this timeframe:
Starting with an accumulated total from the last announcement at 1,648,883 shares, the company made notable purchases:
- September 16, 2024: 5,000 shares at an average price of DKK 174.
- September 17, 2024: 5,000 shares at an average price of DKK 175.
- September 18, 2024: 5,000 shares at an average price of DKK 174.
- September 19, 2024: 5,000 shares at an average price of DKK 176.
- September 20, 2024: 5,000 shares at an average price of DKK 173.
In total, during this week alone, DFDS repurchased 25,000 shares, bringing the accumulated total to 1,691,654 shares, equating to significant transaction values as part of the overall buyback strategy.
The Impact of Share Buybacks on DFDS
Following the completion of the recent transactions, DFDS holds a total of 3,352,167 treasury shares, representing approximately 5.8% of its total share capital. This move is indicative of DFDS's strategy to manage its capital efficiently while addressing investor confidence. Share buybacks have historically been a means for companies to utilize excess cash, support share prices, and return value to shareholders.
Contact Information for Investor Relations
For more inquiries, investors can connect with Søren Brøndholt Nielsen, who is responsible for investor relations, at +45 33 42 33 59. This line of communication is vital for ensuring transparency and keeping shareholders informed about ongoing initiatives and company performance.
About DFDS A/S
DFDS A/S operates a robust transport network throughout Europe, boasting an annual revenue of DKK 28 billion and a dedicated workforce comprising 14,000 full-time employees. The company excels in transporting goods via trailer ferries, road, and rail, alongside providing additional transport and logistics solutions for users in diverse sectors.
Moreover, DFDS facilitates seamless movement of car and foot passengers across short sea and overnight ferry routes, adapting its services to cater to the evolving needs of travelers and merchants alike. Established in 1866, and headquartered in Copenhagen, DFDS is not only a vital transport link but also plays a significant role in the European market.
Frequently Asked Questions
What is the purpose of DFDS's share buyback program?
The share buyback program aims to enhance shareholder value by repurchasing shares, which can positively impact the stock price and returns for investors.
How much is DFDS planning to spend on the buyback program?
DFDS intends to repurchase shares worth up to DKK 431 million throughout the buyback period.
What are the Safe Harbour Rules?
The Safe Harbour Rules are provisions under EU regulations that allow companies to repurchase shares without breaching insider trading laws, fostering a transparent market.
How many shares has DFDS repurchased so far?
As of the last update, DFDS has repurchased a total of 1,691,654 shares under the buyback program.
Who should investors contact for more information?
Investors can reach out to Søren Brøndholt Nielsen, the investor relations contact at DFDS, for detailed inquiries or further information regarding the company's initiatives.
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