DSV A/S Launches Major Share Buyback Program
Company Announcement No. 1130
In a strategic effort to boost shareholder value, DSV A/S has launched a share buyback program. This initiative officially began on July 24, 2024, and is expected to wrap up on October 22, 2024. The company plans to repurchase its own shares totaling up to DKK 1,500 million, which corresponds to a maximum of 2,550,000 shares. This represents approximately 1.19% of the company's total share capital at the start of the program.
Key Features of the Buyback Program
The share buyback initiative complies with European regulations, specifically Regulation No. 596/2014, known as the Market Abuse Regulation (MAR), along with the Commission Delegated Regulation (EU) 2016/1052, which outlines safe harbor provisions. This structured approach is designed not only to stabilize the share price but also to demonstrate the company's robust financial standing and optimistic future outlook.
Overview of Share Transactions
As part of the share buyback initiative, several transactions have already taken place. Here’s a summary of the shares repurchased during the initial trading days:
- Days 1-23: A total of 375,000 shares were repurchased at an average transaction price of DKK 1,218.79.
- Day 24: On this day, 15,000 shares were bought at an average price of DKK 1,239.05, amounting to DKK 18,585,750.
- Day 25: 5,000 shares were acquired at DKK 1,234.60, totaling DKK 6,173,000.
- Day 26: A transaction involved 4,000 shares at DKK 1,234.97, contributing DKK 4,939,880 to the overall total.
- Day 27: The buyback continued with another 4,000 shares purchased at DKK 1,240.26.
- Day 28: The largest transaction occurred with the purchase of 52,000 shares at DKK 1,213.84, which amounted to DKK 63,119,680.
Following these transactions, DSV A/S now holds a total of 6,469,694 shares with a nominal value of DKK 1 each, representing about 3.02% of the total issued shares, which stand at 214,000,000.
Communication and Inquiries
Details of each transaction conducted as part of this buyback program are published regularly to ensure transparency for shareholders. If there are any questions or if further clarification is needed, stakeholders are encouraged to reach out to the executive management team. For inquiries, please contact Stig Frederiksen, Executive Vice President for Investor Relations, at +45 43 20 36 38.
Frequently Asked Questions
What is DSV A/S's share buyback program about?
The program involves DSV A/S repurchasing up to 2,550,000 of its own shares to enhance shareholder value, supported by a budget of DKK 1,500 million.
Why is the company implementing this buyback?
This initiative reflects DSV A/S's strong financial health and commitment to increasing shareholder returns.
How many shares has DSV A/S repurchased so far?
As of now, DSV A/S has bought back a total of 455,000 shares through the ongoing program.
Who can I contact for more information?
For any inquiries regarding the share buyback, stakeholders are advised to contact Stig Frederiksen, Executive Vice President for Investor Relations, at +45 43 20 36 38.
When does the buyback program end?
The share buyback program is scheduled to conclude on October 22, 2024.