DFDS A/S Share Buyback Program Update
DFDS A/S Share Buyback Program Overview
On 9 February 2024, DFDS A/S announced an initiation of a share buyback program aimed at enhancing shareholder value. This program is executed in alignment with the EU Market Abuse Regulation and adheres to the Safe Harbour Rules, ensuring compliance while providing a mechanism for the company to invest in its own shares.
Details of the Buyback Program
Under the program, DFDS plans to repurchase shares worth up to DKK 431 million from 12 February 2024 to 31 December 2024. A maximum of 3,400,000 shares will be repurchased, which also includes shares acquired under separate agreements outside the Safe Harbour parameters, particularly those transacted with Lauritzen Fonden Holding ApS.
Share Buyback Transactions: 19-23 August
Following the initiation, the following transactions were completed under the share buyback program from Monday 19 August 2024 to Friday 23 August 2024:
Accumulated shares purchased until the last announcement totaled 1,382,775 shares with a transaction value of DKK 281,458,985. During the week of 19-23 August, the company conducted several transactions:
- On 19 August 2024, 15,000 shares were bought at an average price of DKK 185, totaling DKK 2,781,000.
- On 20 August 2024, 10,092 shares were repurchased at DKK 187, totaling DKK 1,883,214.
- On 21 August 2024, 4,000 shares were bought at DKK 187, with a transaction value of DKK 747,200.
- On 22 August 2024, 10,000 shares were repurchased for DKK 185 each, totaling DKK 1,850,000.
- On 23 August 2024, 5,000 shares were bought at DKK 185, totaling DKK 926,631.
Through these transactions, DFDS accumulated a total of 44,092 shares in the week with a total transaction value of DKK 8,188,045.
Current Ownership Status
Following the completion of these recent transactions, DFDS now holds a total of 3,118,723 treasury shares, which corresponds to approximately 5.4% of the company’s total share capital. This reinforces the company's commitment to returning capital to shareholders while managing its capital structure efficiently.
Company Overview and Future Outlook
DFDS, founded in 1866 and headquartered in Copenhagen, operates a robust transport network primarily focused on the European region. With an impressive annual revenue of DKK 28 billion and employing around 14,000 full-time staff, DFDS moves goods in trailers across ferry, road, and rail while also providing extensive logistics solutions.
The company is not only known for its logistics capabilities but also for transporting car and foot passengers on various ferry routes. The strategic moves made through the share buyback program reflect DFDS's proactive approach in maintaining shareholder confidence and ensuring a solid financial footing for future endeavors.
Contact Information
Søren Brøndholt Nielsen, IR: +45 33 42 33 59
Frequently Asked Questions
What is the purpose of the share buyback program?
The share buyback program aims to enhance shareholder value, improve capital structure, and invest in the company's future by purchasing its own shares.
How many shares is DFDS planning to buy back?
DFDS plans to repurchase up to a maximum of 3,400,000 shares under the program.
What are the total shares DFDS currently holds in treasury?
DFDS currently holds a total of 3,118,723 treasury shares, amounting to 5.4% of its overall share capital.
What transactions occurred during the week of 19-23 August?
During that week, DFDS repurchased a total of 44,092 shares at a total cost of DKK 8,188,045, with prices ranging from DKK 185 to 187.
How does the share buyback impact DFDS's future prospects?
The share buyback reflects DFDS's commitment to maintaining shareholder confidence while allowing flexibility for future investments and growth opportunities.
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