Genmab’s Share Buy-Back Initiative: Overview and Updates
Genmab’s Strategic Share Buy-Back Program
Announcement Overview
Genmab A/S, well-known in the international biotechnology field, has taken a significant step by initiating a share buy-back program aimed at repurchasing up to 2.2 million shares. This move not only reduces capital but also supports commitments made under the Restricted Stock Unit program. The anticipated completion date for this buy-back initiative is set before mid-July.
Recent Transactions Under the Buy-Back Program
The share buy-back activities commenced recently, with specific transactions recorded between June 9 and June 13. During this short operational period, here are the key highlights:
On June 9, there were no shares repurchased across various trading platforms including XCSE, BCXE, AQEU, and TQEX. However, June 10 recorded a purchase of 100 shares at an average price of DKK 1,474.88, resulting in a total expenditure of DKK 147,487.50. Similarly, on June 11, another 100 shares were bought at an average price of DKK 1,479.07, totaling DKK 147,907.00. The following day, June 12, saw a repetition of this pattern with the purchase of 100 shares at an average of DKK 1,477.69, leading to a total cost of DKK 147,768.50. Finally, June 13 capped this transaction period with another acquisition of 100 shares priced at DKK 1,490.38, culminating in a total spend of DKK 149,037.50.
Summary of Buy-Back Transactions
To summarize these activities:
- Total shares repurchased over the recent transaction period: 400 shares
- Total monetary fund utilized: DKK 592,200.50
- Accumulated shares repurchased under the program: 2,080,711
- Total expenditure up to this point: DKK 2,706,417,889.19
As a result of these transactions, Genmab now retains 2,532,438 shares as treasury, which constitutes approximately 3.95% of the entire share capital, directly impacting corporate governance and shareholder value.
Understanding the Framework of the Buy-Back Program
Genmab’s buy-back initiative is strategically aligned with Regulation (EU) No. 596/2014 and adheres to the Commission Delegated Regulation (EU) 2016/1052, popularly known as the “Safe Harbour Regulation.” Further details outlining the specifics of this program are described in company announcements, such as the one issued on March 25 regarding the program's launch.
Insights into Genmab
Genmab, founded in 1999 and headquartered in Copenhagen, Denmark, is at the forefront of biotechnological advancements. With a mission centered around enhancing patient lives through innovative antibodies, Genmab employs a passionate team committed to creating groundbreaking therapeutics. The company has developed a rich pipeline that includes next-generation antibody technologies such as bispecific T-cell engagers and immune checkpoint modulators.
As Genmab aims for substantial impact in the therapeutic landscape by 2030, their focus on developing powerful antibody medicines will be crucial. Their robust commitment to research and innovation sets Genmab apart in the biotechnology space, continually striving to offer remarkable solutions to cancer and various serious illnesses.
Contact Information for Further Queries
For more detailed 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 commitments under the Restricted Stock Unit program.
How many shares has Genmab repurchased to date?
To date, Genmab has repurchased a total of 2,080,711 shares under its buy-back program.
What is the expected timeline for the completion of the buy-back program?
The program is expected to be completed by mid-July.
How does the share buy-back affect Genmab’s equity?
The buy-back program potentially enhances shareholder value by reducing the number of shares in circulation, thus increasing ownership percentages for existing shareholders.
Where can I find more information on Genmab's business and research efforts?
For more insights into Genmab’s innovative projects and updates, visit their official website and follow their social media channels.
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