Jyske Bank's Strategic Share Repurchase Initiative Explained
Overview of Jyske Bank's Share Repurchase Programme
Jyske Bank is embarking on a significant share repurchase programme that extends from 3 June 2024 to 31 January 2025. During this timeframe, the bank plans to acquire shares worth up to DKK 1.5 billion. This initiative underscores Jyske Bank's commitment to enhancing shareholder value, compliant with the stipulations outlined in the EU Commission Regulation No. 596/2014, often referred to as the Market Abuse Regulation.
Transaction Details Under the Programme
Throughout the duration of this repurchase programme, Jyske Bank has actively engaged in various transactions aimed at acquiring shares. This transparency is crucial for investors and stakeholders monitoring the effectiveness of the programme in real-time.
Previous Announcements and Accumulated Shares
As of the last announcement, Jyske Bank had successfully accumulated a total of 2,680,845 shares, acquired at an average price of DKK 543.23, translating to a total transaction value of approximately DKK 1.46 billion. This impressive figure provides insight into the bank's proactive approach to managing its share capital.
Recent Acquisitions
Following several transaction dates, including 9, 10, 11, and 12 September 2024, the bank acquired additional shares. On 9 September, 60 shares were purchased at an average price of DKK 528.38, along with 13,835 shares on 10 September at DKK 521.86. These incremental acquisitions reflect the ongoing commitment of Jyske Bank to optimize its capital structure.
Current Status of the Share Repurchase Programme
As of the most recent summary, Jyske Bank holds a total of 2,714,819 treasury shares, representing approximately 4.22% of its share capital. This substantial accumulation underscores the bank's strategic intent to enhance shareholder value and maintain an efficient capital structure.
Compliance and Transparency
The share buy-back programme operates in strict compliance with the EU regulations to ensure transparency and fairness in the market. Each transaction under this programme is subjected to regulatory disclosure in alignment with corporate governance principles.
Future Implications
With the continued acquisition of shares, Jyske Bank not only reinforces its market position but also demonstrates confidence in its long-term growth prospects. This move is expected to positively influence the market perception of the bank's stability and financial health, making it an attractive option for investors seeking reliability and growth.
Contact Information
For further inquiries regarding the share repurchase programme, stakeholders may contact Birger Krøgh Nielsen, CFO of Jyske Bank, at +45 89 89 64 44.
Frequently Asked Questions
What is the purpose of Jyske Bank's share repurchase programme?
The primary goal is to enhance shareholder value by acquiring shares up to DKK 1.5 billion, thereby optimizing capital structure and improving market perception.
How many shares has Jyske Bank repurchased as of now?
Jyske Bank has repurchased a total of 2,714,819 treasury shares, which constitutes 4.22% of their share capital.
What regulations does Jyske Bank's programme comply with?
The programme complies with the EU Commission Regulation No. 596/2014, known as the Market Abuse Regulation.
What are the average purchase prices for the repurchased shares?
The average purchase price across various transactions is approximately DKK 542.96.
Who can be contacted for more information about the initiative?
Interested parties can reach out to Birger Krøgh Nielsen, CFO of Jyske Bank, at the contact number provided above.
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