DFDS Implements Share Buyback Program to Enhance Value
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DFDS Launches Share Buyback Program
In an exciting move to bolster shareholder value, DFDS A/S has kick-started a share buyback program. This initiative adheres to the EU Market Abuse Regulation and the Safe Harbour Rules, providing a clear pathway for executing the buyback responsibly and transparently.
Details of the Buyback Program
The share buyback program, which commenced on February 12, 2024, is designed to repurchase its own shares, with a total authorization of up to DKK 431 million. DFDS plans to acquire as many as 3,400,000 shares during the program's duration, which extends to December 31, 2024. This encompasses shares procured under Safe Harbour rules and those acquired outside the Safe Harbour provisions, specifically shares purchased from Lauritzen Fonden Holding ApS.
Recent Transactions within the Buyback Program
Looking at the transactions from August 26 to August 30, 2024, DFDS has made notable strides in executing this program. Below are the significant repurchases made during this period:
Initially, DFDS reported an accumulated total of 1,458,210 shares before these transactions commenced. Over the five-day trading period, the company repurchased a total of 50,449 shares, breaking down as follows:
Transaction Breakdown
On August 26, DFDS repurchased 16,500 shares at an average purchase price of DKK 187, totaling a transaction value of DKK 3,084,837. The following day, the company acquired an additional 10,368 shares, maintaining the same average price, leading to a total expenditure of DKK 1,933,704.
August 28 saw DFDS purchasing 10,000 shares at DKK 182, summing to DKK 1,819,020. Subsequently, on August 29, 7,581 shares were bought for an average price of DKK 183, resulting in a transaction value of DKK 1,384,091. Finally, on August 30, the company added 6,000 shares at DKK 184, costing DKK 1,104,342.
Summary of Repurchased Shares
To summarize the week’s engagements, DFDS has acquired a total of 50,449 shares, which during this buying cycle cost around DKK 9,325,993, showcasing a carefully managed buying strategy under the program.
Impact of the Buyback Program
As a direct consequence of these transactions, DFDS now commands a total of 3,205,034 treasury shares, which represents approximately 5.5% of its total share capital. This significant holding underscores the company's commitment to enhancing shareholder returns and affirming the confidence it has in its future prospects.
About DFDS and its Operations
Founded in 1866, DFDS A/S operates a complex transport network across Europe. With an impressive annual revenue of DKK 28 billion and a skilled workforce of approximately 14,000 employees, the company specializes in moving goods using ferry, road, and rail transport. Additionally, DFDS provides related logistics services, which are crucial for ensuring efficient supply chains in the region.
Moreover, the company doesn’t just cater to freight; it also operates ferry services for car and foot passengers across various short sea and overnight routes. Positioned as a leading transport operator, DFDS stands unapologetically proud of its robust history and commitment to innovation within logistics.
Contact Information
For further inquiries, Søren Brøndholt Nielsen can be reached at +45 33 42 33 59, providing reliable information regarding the company’s operations and programs.
Frequently Asked Questions
What is the purpose of DFDS's share buyback program?
The program aims to enhance shareholder value by reducing the number of outstanding shares and demonstrating the company's commitment to returning value to its investors.
How many shares does DFDS plan to repurchase?
DFDS has authorized the repurchase of up to 3,400,000 shares under the program.
What are the financial details of the recent share buybacks?
During the week of August 26-30, 2024, DFDS repurchased a total of 50,449 shares for a total of DKK 9,325,993.
How many treasury shares does DFDS currently hold?
DFDS currently holds 3,205,034 treasury shares, which equates to about 5.5% of its total share capital.
What does DFDS specialize in?
DFDS operates a transport network facilitating the movement of goods and passengers across Europe, using ferries, roads, and rail.
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