Genmab's Strategic Share Buy-back Program Developments
Genmab A/S Announces Share Buy-back Program
Company Announcement
COPENHAGEN, Denmark – Genmab A/S (Nasdaq: GMAB). The recent initiative by Genmab to launch a share buy-back program has created a buzz in the investment community. This program is set to repurchase up to 2.2 million shares, a move designed to reduce capital and fulfill obligations under the company’s Restricted Stock Unit program. While the completion date is projected for July 10, the investment world is keenly watching how this initiative unfolds.
Details of Executed Transactions Under the Program
Between April 7 and April 11, multiple transactions took place as part of the share buy-back plan:
Transaction Overview from April 7 to April 11
During these dates, Genmab executed various trades across different trading platforms. In total, the company purchased 95,653 shares on April 7 at the XCSE platform for an average price of 1,220.89 DKK, resulting in a substantial investment. Overall, the accumulation of shares has steadily progressed, with totals reflected for each day.
April 8 Transactions
On April 8, the company continued its share repurchases, acquiring a total of 90,000 shares across several platforms, maintaining an average price that reflects their commitment to share value.
April 9 Highlights
March 9 saw the acquisition of 85,752 shares, reinforcing Genmab’s focus on returning value to investors through strategic financial maneuvers.
Continued Efforts on April 10 and 11
The trading momentum did not stop there. On April 10, another purchase of 87,489 shares was executed. This commitment to repurchasing in substantial numbers signifies Genmab's persuasive strategy to enhance shareholder value.
Impact of Shares Held in Treasury
As a result of these transactions, Genmab now holds a total of 1,536,655 shares as treasury shares, which accounts for approximately 2.40% of its total share capital and voting rights. This buy-back strategy serves not only as a means to consolidate financial resources but also reinforces investor confidence in the company’s long-term vision.
Complying with Regulatory Standards
The share buy-back program proceeds in full compliance with Regulation (EU) No. 596/2014 (‘MAR') and the Commission Delegated Regulation (EU) 2016/1052, commonly known as the 'Safe Harbour Regulation.' Such adherence emphasizes Genmab's commitment to conducting business ethically while focusing on enhancing shareholder value.
About Genmab and Its Mission
About Genmab
Genmab is an impactful international biotechnology company that passionately strives to improve patients' lives through innovative and differentiated antibody therapeutics. Over the past 25 years, Genmab's dedicated team has pioneered next-generation antibody technology platforms, leveraging translational and quantitative sciences. This innovation has led to a pipeline that includes groundbreaking therapies like bispecific T-cell engagers and next-generation immune checkpoint modulators, aiming to combat cancer and other life-threatening diseases.
Established in 1999 and headquartered in Copenhagen, Genmab extends its operations across North America, Europe, and Asia Pacific. For more information, potential investors can visit Genmab.com and connect with the company on LinkedIn.
Contact Information for Stakeholders
Contact:
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 Genmab's recent share buy-back program about?
The program aims to repurchase up to 2.2 million shares to reduce capital and meet commitments under the Restricted Stock Unit program.
When is the expected completion date for the buy-back?
The buy-back program is expected to conclude by July 10.
How many shares has Genmab bought back as of now?
Genmab has accumulated a total of 1,083,902 shares under the program as of the latest update.
What percentage of Genmab's total share capital do treasury shares represent?
The treasury shares represent approximately 2.40% of the total share capital and voting rights.
How does the buy-back affect investor confidence?
By executing a share buy-back program, Genmab aims to bolster investor confidence and indicate a strong commitment to shareholder value.
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