Jyske Bank Successfully Completes Share Repurchase Program
Overview of Jyske Bank's Share Repurchase Program
Jyske Bank has embarked on an initiative to enhance shareholder value through an extensive share repurchase program. The program intends to buy back shares valued at up to DKK 1.5 billion. This initiative is particularly crafted to comply with the regulations established by the EU Commission, specifically the Market Abuse Regulation. The framework was initiated on June 3, 2024, with a conclusion timeline set for January 31, 2025, unless completed earlier.
Key Objectives and Regulations
This repurchase effort reflects Jyske Bank's commitment to its shareholders. By reducing the number of shares in circulation, the bank aims to bolster its stock’s intrinsic value. Additionally, the bank strictly observes the EU regulations that govern such operations to maintain transparency and trust in the financial markets.
Details of Share Transactions
As the program has progressed, Jyske Bank has successfully repurchased shares worth the entire planned DKK 1.5 billion. Below are the highlighted transactions that occurred during this period:
Transaction Breakdown
The following transactions illustrate the bank's commitment to executing this repurchase plan:
- Accumulated Shares Before Recent Transactions: 2,717,007 shares had already been repurchased at an average price of 542.94 DKK, amounting to 1,475,177,479 DKK.
- Recent Transactions include:
- 30 September 2024: 60 shares bought at an average price of 523.26 DKK.
- 1 October 2024: 20,291 shares purchased at an average price of 516.35 DKK.
- 2 October 2024: 6,349 shares acquired at an average of 516.32 DKK.
- 3 October 2024: 21,411 shares bought at 515.41 DKK.
In total, a new accumulated result under this program reveals that Jyske Bank has repurchased 2,765,118 shares, representing approximately 4.30% of its total share capital. This not only demonstrates the bank's proactive stance in managing its capital but also signifies confidence in its ongoing financial health.
Conclusion and Future Outlook
With the completion of the share repurchase program, Jyske Bank has effectively managed to enhance shareholder value while adhering to regulatory requirements. The transactions conducted showcase a strategic approach to capital management, paving the way for future endeavors that aim to further strengthen the bank's financial standing.
Furthermore, as Jyske Bank continues to evaluate further opportunities for growth and investment, shareholders can expect continued commitment to maintaining a robust return on investment and enhancing market performance.
Frequently Asked Questions
What was the main objective of Jyske Bank's share repurchase program?
The main aim was to enhance shareholder value by repurchasing shares to reduce the total shares in circulation, thereby boosting the stock's intrinsic value.
How much was allocated for the share repurchase program?
Jyske Bank allocated up to DKK 1.5 billion for the share repurchase program.
When was the share repurchase program initiated?
The initiative began on June 3, 2024, with a planned completion date of January 31, 2025.
What percentage of the share capital does the repurchased amount represent?
The repurchased shares represent approximately 4.30% of Jyske Bank's total share capital.
Who can be contacted for further inquiries regarding the program?
For more details, Birger Krøgh Nielsen, CFO, is available for contact at +45 89 89 64 44.
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