ISS A/S Updates on Share Buyback Program Progress
Current Insights on the Share Buyback Program
Company Announcement
ISS A/S, recognized as a prominent player in the workplace experience and facility management sector, has recently announced substantial updates concerning its share buyback program initiated earlier in the year. This strategic move aims to reinforce shareholder value while adhering to the appropriate regulations governing market operations.
Details of the Share Buyback Program
In its bid to redistribute excess cash to shareholders, ISS A/S launched the buyback program on February 22, 2024. This initiative is in compliance with Regulation (EU) No 596/2014, commonly referred to as the Market Abuse Regulation. The program is also structured within the guidelines set forth by the Commission Delegated Regulation (EU) 2016/1052.
The core intentions behind this share buyback are twofold: to efficiently reduce the share capital while simultaneously fulfilling obligations associated with the company’s share-based incentive programs. With a maximum expenditure pegged at DKK 1.25 billion, the integration of this financial strategy is geared towards improving shareholder returns.
Recent Transactions Under the Program
As of late September, a series of key transactions have been executed. The latest transaction data reveals an accumulation of shares repurchased through various dates:
Transaction Overview
On September 23, 2024, ISS A/S acquired 32,000 shares at an average purchase price of DKK 131.58. Following this, on September 24, 30,000 shares were purchased at DKK 132.71 each. Continuing the trend on September 25, another 30,000 shares were acquired at DKK 132.32. On September 26, the company participated in further acquisitions of 30,000 shares at DKK 134.43, and finally on September 27, another purchase of 30,000 shares occurred at an average price of DKK 135.54.
As it stands, the cumulative total of shares repurchased under this program has reached 5,217,248, representing around 3.57% of the total share capital currently held by ISS A/S.
Impact of the Share Buyback Program
This strategic initiative not only serves to bolster the financial positions of shareholders but reflects ISS A/S's ongoing commitment to enhancing returning on investments. By continually repurchasing shares, the company signals confidence in its operational strategies and future growth potential.
Engagement with Shareholders
ISS A/S remains dedicated to engaging with its shareholder base effectively. The company also emphasizes transparent communications, providing up-to-date information regarding these transactions and their implications on shareholder equity.
Contact Information
For any inquiries related to investor relations, stakeholders are encouraged to reach out to Michael Vitfell-Rasmussen, the Head of Group Investor Relations, at +45 53 53 87 25. For media-related queries, Charlotte Holm, Head of External Communication, can be contacted at +45 41 76 19 89. These points of contact ensure that both investors and media representatives have their questions addressed promptly.
About ISS A/S
ISS A/S is a widely recognized provider of workplace and facility service solutions globally. The company's model focuses on driving employee engagement and enhancing overall well-being while maintaining a commitment to environmental sustainability. With diverse service offerings across various sectors, including offices, healthcare facilities, and manufacturing sites, ISS contributes toward creating a positive impact in numerous communities. With over 350,000 employees worldwide, ISS is dedicated to maintaining high standards of service and operational excellence.
In 2023, ISS A/S recorded impressive group revenues amounting to DKK 78.7 billion, showcasing the firm’s robust financial health and business growth trajectory. For further details about ISS A/S, please visit their official website.
Frequently Asked Questions
What is the main goal of ISS A/S's share buyback program?
The primary goal is to redistribute excess cash to shareholders and meet obligations from share-based incentive programs.
How many shares have been repurchased under the program?
A total of 5,217,248 shares have been repurchased, reflecting 3.57% of the total share capital.
Who can I contact for inquiries about ISS A/S?
For investor inquiries, reach out to Michael Vitfell-Rasmussen at +45 53 53 87 25. Media inquiries can be directed to Charlotte Holm at +45 41 76 19 89.
What regulations guide the share buyback program?
The program operates under the Market Abuse Regulation and the Commission Delegated Regulation concerning share buybacks.
What services does ISS A/S provide?
ISS A/S offers a range of workplace and facility services aimed at promoting employee engagement and operational efficiency.
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