Overview of DFDS A/S Share Buyback Program
On 9 February 2024, DFDS A/S announced the launch of a share buyback program designed to enhance shareholder value. This initiative is in accordance with the EU Market Abuse Regulation and follows the Safe Harbour Rules, ensuring compliance while allowing the company to invest in its own shares.
Buyback Program Details
As part of this program, DFDS intends to repurchase shares valued at up to DKK 431 million from 12 February 2024 through 31 December 2024. The plan includes the buyback of a maximum of 3,400,000 shares, which encompasses shares acquired through separate agreements outside the Safe Harbour parameters, particularly those transactions with Lauritzen Fonden Holding ApS.
Share Buyback Transactions: 19-23 August
Since the program's initiation, several transactions have been carried out under the share buyback program from Monday, 19 August 2024, to Friday, 23 August 2024:
As of the last announcement, DFDS had purchased a total of 1,382,775 shares, with a transaction value of DKK 281,458,985. During the week of 19-23 August, the company executed the following transactions:
- On 19 August 2024, 15,000 shares were acquired at an average price of DKK 185, amounting to 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, resulting in a transaction value of DKK 747,200.
- On 22 August 2024, 10,000 shares were repurchased at DKK 185 each, totaling DKK 1,850,000.
- On 23 August 2024, 5,000 shares were acquired at DKK 185, amounting to DKK 926,631.
Through these transactions, DFDS accumulated a total of 44,092 shares during the week, with an overall transaction value of DKK 8,188,045.
Current Ownership Status
After these recent transactions, DFDS now holds a total of 3,118,723 treasury shares, which represents about 5.4% of the company's total share capital. This demonstrates the company's commitment to returning capital to shareholders while effectively managing its capital structure.
Company Overview and Future Outlook
Founded in 1866 and based in Copenhagen, DFDS operates a strong transport network primarily focused on Europe. With an impressive annual revenue of DKK 28 billion and a workforce of around 14,000 full-time employees, DFDS facilitates the movement of goods in trailers across ferry, road, and rail, while also offering comprehensive logistics solutions.
The company is recognized not only for its logistics capabilities but also for transporting both car and foot passengers on various ferry routes. The strategic decisions made through the share buyback program reflect DFDS's proactive approach to maintaining shareholder confidence and ensuring a solid financial foundation for future growth.
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 is designed to enhance shareholder value, improve the capital structure, and invest in the company's future by repurchasing its own shares.
How many shares does DFDS plan to buy back?
DFDS aims to repurchase up to 3,400,000 shares as part of the program.
What is the total number of treasury shares currently held by DFDS?
DFDS currently holds 3,118,723 treasury shares, which accounts for 5.4% of its total share capital.
What transactions took place 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 share prices ranging from DKK 185 to 187.
How does the share buyback affect DFDS's future prospects?
The share buyback underscores DFDS's commitment to maintaining shareholder confidence while providing flexibility for future investments and growth opportunities.
