Strategic Share Buyback Program Overview
On February 9, 2024, DFDS A/S officially announced the launch of a comprehensive share buyback program. This initiative is designed to follow the EU Market Abuse Regulation, specifically EU Regulation no. 596/2014, and complies with the Safe Harbour Rules that were outlined in the Commission Delegated Regulation (EU) 2016/1052. The effective execution of this strategy is focused on enhancing shareholder value while promoting responsible market practices.
Goals and Funding of the Buyback Program
Under the set program, DFDS aims to repurchase shares valued up to DKK 431 million starting from February 12, 2024, through to December 31 of the same year. The company has established a cap on the number of shares re-acquired, with a maximum of 3,400,000 shares included in this buyback scheme. Notably, these shares consist of both those acquired through the Safe Harbour guidelines as well as an additional share purchase from Lauritzen Fonden Holding ApS, which relates to a separate agreement with DFDS.
Recent Transactions Under the Buyback Program
Between October 28 and November 1, 2024, DFDS executed a series of transactions as part of its share buyback initiative. During this one-week period, the company reported several key purchases:
Transaction Insights
The cumulative total of shares bought back from the last reported count stood at 1,907,379 shares, totaling a transaction value of DKK 373,330,528. Over this specific week, DFDS made multiple purchases such as:
- On October 28, 2024, DFDS repurchased 8,000 shares at an average purchase price of DKK 157, amounting to a transaction value of DKK 1,253,706.
- On October 29, another 8,000 shares were acquired at DKK 155 for a value of DKK 1,243,066.
- On October 30, 7,617 shares were purchased for DKK 153, totaling DKK 1,164,169.
- On October 31, DFDS acquired 8,000 shares at DKK 155, leading to a transaction value of DKK 1,242,646.
- Finally, on November 1, 2024, the company bought back 10,000 shares at an average price of DKK 156, amounting to DKK 1,560,038.
The total number of shares repurchased from these transactions reached 41,617, with an average price of DKK 155 and a cumulative transaction value of DKK 6,463,624. Additionally, shares purchased from Lauritzen Fonden Holding ApS on November 1 totaled 29,584 at an average price of DKK 155, resulting in a high-value transaction of DKK 4,594,753.
Current Standing Post Transactions
After concluding these share buyback transactions, DFDS reported holding a robust total of 3,639,093 treasury shares, which now represents approximately 6.3% of its entire share capital. Such strategic moves reflect DFDS's commitment toward strengthening its financial position and enhancing shareholder confidence.
Future Plans and Initiatives
DFDS continues to remain proactive in its operations, ensuring growth and stability not just through share repurchases but also through the expansion of its business model. The company maintains a strong ambition across its transport network servicing various sectors in Europe, focusing on increasing profitability while minimizing any potential risks.
About DFDS A/S
Founded in 1866, DFDS A/S has grown into a leading provider of transport solutions in Europe, achieving an impressive annual revenue of DKK 28 billion. The company employs around 14,000 dedicated full-time professionals who work tirelessly to ensure the seamless movement of goods via ferry, road, and rail. Additionally, DFDS caters to passengers, managing both short sea and overnight ferry routes, continually seeking improvement in its service delivery.
Frequently Asked Questions
What is the purpose of the DFDS share buyback program?
The primary purpose is to enhance shareholder value by repurchasing shares and reducing the outstanding share count.
How much is DFDS planning to spend on the buyback program?
DFDS has allocated up to DKK 431 million for the share buyback initiative.
What regulatory compliance does the buyback program adhere to?
The program follows EU Market Abuse Regulation and adheres to the Safe Harbour Rules.
How many shares has DFDS repurchased so far?
As of now, DFDS has repurchased a total of 3,639,093 treasury shares, representing 6.3% of its total share capital.
Who can I contact for more information about DFDS?
For inquiries, please contact Søren Brøndholt Nielsen at +45 33 42 33 59.
