Genmab Initiates Share Buy-Back Program
Genmab A/S is making strides in its commitment to enhance shareholder value with the initiation of a substantial share buy-back program. This program is designed to repurchase up to 2.2 million shares, which reflects Genmab's dedication to optimizing its capital structure and fulfilling obligations associated with its Restricted Stock Unit program. The company's plan aims to conclude by a specified timeframe, ensuring that shareholders witness the effectiveness of this initiative.
Key Transactions Under the Buy-Back Program
The share buy-back program began execution on March 26 and continued through March 28. The details of the transactions executed during this initial phase are indicative of the momentum built around Genmab's stock. During this period, several significant trades were executed across various trading platforms, showcasing robust interest in the buy-back initiative.
Summary of Trading Activities
On March 26, a total of 75,100 shares were reacquired, achieving an average price of 1,357.47 DKK. Notable trading platforms involved included XCSE, BCXE, AQEU, and TQEX, highlighting a diverse engagement in the share buy-back activity. This initial day set a strong precedent for subsequent transactions.
Details of Continued Activities
The trading continued on March 27, with another solid engagement resulting in 80,078 shares being purchased at an average price of 1,380.40 DKK. The ongoing buy-back reflects a calculated approach by Genmab to strategically allocate resources for shareholder returns.
Total Transactions Overview
As of March 28, 2025, Genmab totals an impressive 233,556 shares repurchased across the contemplated timeframe, with a total expenditure of approximately 319,971,942.97 DKK. These repurchases exemplify the company's commitment to leveraging its financial strength for the benefit of its shareholders while enhancing the overall equity structure.
Future Outlook for Genmab
With these transactions firmly underway, Genmab now retains 2,771,544 shares as treasury shares, which equates to 4.19% of its entire share capital and voting rights. Such actions accentuate Genmab's proactive strategy in managing its shareholder equity and reflect confidence in its operational performance and market position.
Commitment to Compliance
This share buy-back program is conducted in alignment with Regulation (EU) No. 596/2014, illustrating Genmab's commitment to adhering to all regulatory frameworks and maintaining transparency throughout this process. Further insights and details regarding the program have been communicated through official channels, enhancing shareholder knowledge and trust.
About Genmab
Genmab A/S is a pioneering biotechnology company recognized for its innovative achievements over the last 25 years. With a focus on developing advanced antibody therapeutics, Genmab is dedicated to improving patients' lives by leveraging superior science and technology. Their proprietary pipeline includes groundbreaking treatments such as bispecific T-cell engagers and immune checkpoint modulators.
Genmab’s Vision
Looking to the future, Genmab aims to transform the treatment landscape for individuals contending with cancer and other severe diseases through its innovative antibody medicines. It strives to make a substantial impact and improve treatment outcomes for patients globally, reinforcing its position as a leader in the biotechnology sector.
Company Contact Information
For more details regarding this announcement or further inquiries, interested parties can 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 aims to repurchase shares to reduce capital and fulfill obligations under the Restricted Stock Unit program.
How many shares is Genmab planning to buy back?
Genmab plans to repurchase up to 2.2 million shares under the buy-back initiative.
When is the buy-back program expected to conclude?
The program is expected to be completed by a specified deadline, ensuring timely execution of the buy-back transactions.
Which trading platforms are involved in the buy-back transactions?
Key trading platforms such as XCSE, BCXE, AQEU, and TQEX are involved in executing the share repurchases.
What percentage of total share capital does Genmab hold as treasury shares?
After the transactions, Genmab holds 4.19% of its total share capital as treasury shares.
