Significant Share Buy-Back Announced by Genmab A/S
Company Announcement
GENMAB A/S (Copenhagen: GMAB) has taken decisive action to enhance shareholder value by initiating a share buy-back program aimed at repurchasing up to 2.2 million shares. This strategic move is intended not only to reduce the overall capital but also to fulfill commitments related to the Restricted Stock Unit program.
Genmab's buy-back initiative is set to conclude by July 10, emphasizing the company's commitment to returning value to its shareholders.
Latest Transactions Under the Buy-Back Program
The period from May 26 to May 30 marked important transactions executed under this buy-back program. Below are the details:
Transaction Summary
Through several trading platforms, Genmab successfully repurchased shares. Here’s a snapshot of the transaction details:
- Date: May 26 - 100 shares bought at an average price of 1376.94 DKK for a total value of 137,693.50 DKK.
- Date: May 27 - 100 shares bought at an average price of 1397.56 DKK for a total value of 139,756.00 DKK.
- Date: May 28 - 100 shares bought at an average price of 1381.67 DKK for a total value of 138,166.50 DKK.
- Date: May 29 - No shares were repurchased on this date.
- Date: May 30 - No shares were repurchased on this date.
Total Shares Repurchased
From the commencement of the buy-back program up to the recent transactions, Genmab has accumulated 2,531,638 shares as treasury shares. This accounts for approximately 3.95% of the total share capital and voting rights of the company.
Regulatory Compliance and Future Projections
The share buy-back initiative is compliant with Regulation (EU) No. 596/2014 (‘MAR’) as well as with the Commission Delegated Regulation (EU) 2016/1052, which is also known as the “Safe Harbour Regulation.” Additionally, further information regarding this program can be found in Genmab’s communication documented as announcement no. 14 dated March 25.
About Genmab A/S
Genmab is a prominent international biotechnology firm with a mission to innovate and enhance the lives of patients through cutting-edge antibody therapeutics. With over 25 years of expertise, the passionate team at Genmab has pioneered next-generation antibody technology platforms alongside the utilization of advanced data sciences. The company’s expansive proprietary pipeline includes innovative treatments such as bispecific T-cell engagers and immune checkpoint modulators.
Genmab’s ambition is to transform the treatment landscape for cancer and other severe diseases with innovative antibody medicines by 2030. The company is headquartered in Copenhagen and maintains a strong presence across North America, Europe, and Asia Pacific.
Contact Information
For more details, please reach out to:
Marisol Peron
Senior Vice President, Global Communications & Corporate Affairs
T: +1 609 524 0065
E: mmp@genmab.com
Andrew Carlsen
Vice President, Head of Investor Relations
T: +45 3377 9558
E: acn@genmab.com
Frequently Asked Questions
What is the purpose of Genmab's share buy-back program?
The buy-back program is designed to reduce capital and fulfill commitments related to the Restricted Stock Unit program.
How many shares does Genmab plan to repurchase?
Genmab aims to repurchase up to 2.2 million shares as part of this initiative.
When is the buy-back program expected to complete?
The program is expected to be completed no later than July 10.
What percentage of total shares does Genmab currently hold as treasury shares?
Genmab holds approximately 3.95% of its total share capital as treasury shares following the transactions made during the buy-back program.
What is Genmab’s vision for the future?
By 2030, Genmab aims to significantly improve the lives of patients with cancer and serious diseases through its innovative antibody medicines.
