ISS A/S Enhances Shareholder Value Through Buyback Program
ISS A/S Enhances Shareholder Value Through Buyback Program
Company Announcement
Transactions in connection with share buyback programme
ISS A/S, a prominent name in workplace experience and facility management, recently launched a new share buyback program aimed at delivering additional value to shareholders. Announced back in February 2024, this initiative engages in a strategy formed under the guidance of the EU's Market Abuse Regulation.
The essence of this buyback program is to redistribute some of the company’s excess cash back to its shareholders, with a dual purpose: to lower the share capital while also fulfilling the obligations tied to ISS’ share-based incentive offerings.
By executing this program, which allows for the repurchase of shares up to a total value of DKK 1.25 billion, ISS demonstrates its commitment to enhancing shareholder value. This strategic move is set to commence on February 22, 2024, and aims to conclude no later than February 19, 2025. Currently, the second phase of this endeavor is underway, with a budget maximum of DKK 750 million, initiated on August 13, 2024, and set to complete by February 19, 2025.
Recent Transactions Under the Share Buyback Program
To provide transparency in this operation, the following transactions have been reported:
Current Transactions:
As of September 12, 2024, the total shares accumulated through the program amounted to 4,904,248 shares, demonstrating an average purchase price of DKK 125.61, which reflects a transaction value of approximately DKK 616,012,471. Detailed transaction records indicate individual buybacks on specific days, enhancing the clarity of how the company is proceeding.
Transaction Details
- 9 September 2024: 32,000 shares at an average price of DKK 128.55, totaling DKK 4,113,600.
- 10 September 2024: 32,000 shares at an average price of DKK 127.16, amounting to DKK 4,069,120.
- 11 September 2024: 34,000 shares bought at DKK 125.64, with a value of DKK 4,271,760.
- 12 September 2024: 34,000 shares at DKK 126.48, costing DKK 4,300,320.
- 13 September 2024: 35,000 shares at DKK 127.93, totaling DKK 4,477,550.
This buyback program signifies a significant commitment from ISS A/S to return value to its shareholders—demonstrating both financial credibility and robust management strategies aimed at promoting shareholder confidence.
Importance of the Program for ISS A/S
By participating in this buyback program, ISS A/S not only works towards boosting financial returns for its investors but also helps maintain a stable share price during fluctuating market conditions. The ownership of 6,312,347 treasury shares directly correlates to about 3.40% of the company’s total share capital.
How the Buyback Program Affects Shareholders
For shareholders, the essence of this initiative revolves around increased value per share, benefiting existing investors. As the share capital diminishes via buybacks, the overall shareholder equity rises proportionately, often leading to a positive response from the market and enhancing investor sentiment.
As a global trailblazer with over 350,000 employees, ISS A/S is recognized not just for its operational excellence within workplace and facility service solutions but also for its commitment to creating sustainable business practices. In 2023, the company achieved an impressive Group revenue of DKK 78.7 billion, reinforcing their successful operational strategies.
Contact Information
For any investor inquiries, please reach out to Michael Vitfell-Rasmussen, Head of Group Investor Relations, at +45 53 53 87 25.
For media inquiries, contact Charlotte Holm, Head of External Communication, at +45 41 76 19 89.
Frequently Asked Questions
What is the main goal of the ISS A/S share buyback program?
The main objective is to redistribute excess cash to shareholders and fulfill obligations related to share-based incentive programs.
How much does ISS plan to spend on the buyback program?
ISS intends to spend up to DKK 1.25 billion on the share buyback program.
When did the buyback program start?
The program was announced on February 22, 2024, and will run until February 19, 2025.
How are the buyback transactions affecting ISS's share capital?
The program aims to reduce the total share capital, which can boost the value of remaining shares owned by investors.
Who can be contacted for more information regarding the buyback program?
Michael Vitfell-Rasmussen and Charlotte Holm are the main contacts for investor and media inquiries, respectively.
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