DSV A/S Launches Major Share Buyback Program Announcement
DSV A/S Initiates Significant Share Buyback Program
Company Announcement No. 1130
In a strategic move to enhance shareholder value, DSV A/S has embarked on a share buyback program. This initiative was officially initiated on July 24, 2024, and is set to conclude on October 22, 2024. The company intends to acquire its own shares totaling up to DKK 1,500 million, representing a maximum of 2,550,000 shares, which amounts to roughly 1.19% of the company's overall share capital at the outset of the program.
Highlights of the Buyback Program
The share buyback operation adheres to the European regulatory framework, specifically Regulation No. 596/2014, also known as the Market Abuse Regulation (MAR), and the Commission Delegated Regulation (EU) 2016/1052, which provides provisions for safe harbor rules. This systematic approach not only aims to stabilize the share price but also serves to reflect the company's strong financial position and future outlook.
Summary of Share Transactions
As part of the share buyback, activities have already been recorded. Here’s a summary of the shares repurchased during the initial trading days:
- Days 1-23: Accumulated trading involved the buyback of 375,000 shares, with an average transaction price of DKK 1,218.79.
- Day 24: 15,000 shares were bought at an average price of DKK 1,239.05, totaling DKK 18,585,750.
- Day 25: 5,000 shares acquired at DKK 1,234.60, summing up to DKK 6,173,000.
- Day 26: A transaction of 4,000 shares at DKK 1,234.97 contributed DKK 4,939,880 to the total.
- Day 27: The buyback continued with another 4,000 shares at DKK 1,240.26.
- Day 28: The largest transaction saw 52,000 shares purchased at DKK 1,213.84, amounting to DKK 63,119,680.
After this round of transactions, DSV A/S now holds a total of 6,469,694 shares with a nominal value of DKK 1 each, which equates to about 3.02% of the total issued shares which stand at 214,000,000.
Communication and Queries
The specifics of each transaction conducted under this buyback program are systematically published, ensuring transparency with shareholders. If any questions or clarifications are needed, stakeholders are encouraged to reach out to executive management. Contact can be made through Stig Frederiksen, Executive Vice President for Investor Relations, at the telephone number +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.
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