DFDS Initiates Share Buyback Program
In a significant step to enhance shareholder value, DFDS A/S has launched a share buyback program. This initiative complies with the EU Market Abuse Regulation and the Safe Harbour Rules, ensuring a responsible and transparent execution of the buyback.
Buyback Program Details
The share buyback program began on February 12, 2024, with plans to repurchase its own shares, amounting to a total authorization of up to DKK 431 million. DFDS aims to buy back as many as 3,400,000 shares throughout the program, which is set to run until December 31, 2024. This includes shares acquired under the Safe Harbour rules as well as those purchased outside of these provisions, particularly shares obtained from Lauritzen Fonden Holding ApS.
Recent Buyback Transactions
From August 26 to August 30, 2024, DFDS made notable progress in its buyback efforts. Here’s a summary of the significant repurchases during this time:
Before these transactions began, DFDS had accumulated a total of 1,458,210 shares. Over the five-day trading period, the company repurchased a total of 50,449 shares, detailed as follows:
Transaction Breakdown
On August 26, DFDS repurchased 16,500 shares at an average price of DKK 187, resulting in a transaction value of DKK 3,084,837. The next day, the company bought an additional 10,368 shares at the same average price, totaling DKK 1,933,704.
On August 28, DFDS acquired 10,000 shares at DKK 182, which amounted to DKK 1,819,020. The following day, 7,581 shares were purchased at an average price of DKK 183, leading to 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
In total, DFDS acquired 50,449 shares during this buying cycle, with an overall cost of approximately DKK 9,325,993, reflecting a well-managed buying strategy under the program.
Effects of the Buyback Program
As a result of these transactions, DFDS now holds a total of 3,205,034 treasury shares, which accounts for about 5.5% of its total share capital. This substantial holding highlights the company's dedication to boosting shareholder returns and reinforces its confidence in future growth.
About DFDS and Its Operations
Established in 1866, DFDS A/S operates an extensive transport network throughout Europe. With an impressive annual revenue of DKK 28 billion and a workforce of around 14,000 employees, the company focuses on transporting goods via ferry, road, and rail. DFDS also provides essential logistics services that are vital for maintaining efficient supply chains across the region.
In addition to freight services, DFDS operates ferry routes for both car and foot passengers on various short sea and overnight journeys. As a leading transport operator, DFDS takes pride in its rich history and its commitment to innovation in logistics.
Contact Information
For further inquiries, please contact Søren Brøndholt Nielsen at +45 33 42 33 59, who can provide 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.
