Jyske Bank's Strategic Share Repurchase Program Explained
Understanding Jyske Bank's Share Repurchase Program
Jyske Bank has embarked on a strategic share repurchase program effective from June 3, 2024, continuing until January 31, 2025. This initiative allows Jyske Bank to acquire shares valued up to DKK 1.5 billion, reiterating its commitment to shareholder value and adherence to regulatory frameworks.
Program Framework and Compliance
This share buy-back program has been carefully structured in compliance with the EU Commission Regulation No. 596/2014, commonly referred to as the Market Abuse Regulation. It ensures that all transactions executed under this program are transparent and aligned with market standards, providing confidence to investors and stakeholders.
Details of Share Transactions
Here's a breakdown of the transactions occurring under the program:
Transaction Overview
Through the recently initiated program, several significant transactions have taken place:
- Accumulated Previous Announcements:
- Number of Shares: 2,501,939
- Average Purchase Price: DKK 543.59
- Transaction Value: DKK 1,360,028,756
- Recent Transactions:
- Date: September 2, 2024 - 38,362 shares at DKK 544.01 totaling DKK 20,869,179
- Date: September 3, 2024 - 41,287 shares at DKK 539.16 totaling DKK 22,260,126
- Date: September 4, 2024 - 43,668 shares at DKK 536.13 totaling DKK 23,411,627
- Date: September 5, 2024 - 41,689 shares at DKK 536.97 totaling DKK 22,385,737
- Date: September 6, 2024 - 13,900 shares at DKK 529.47 totaling DKK 7,359,573
Total Accumulated Shares
As of the latest transactions, Jyske Bank has accumulated a total of 2,680,845 treasury shares. This represents approximately 4.17% of the bank's entire share capital, reinforcing its commitment to optimizing shareholder equity while complying with regulatory mandates.
The Significance of the Program for Investors
For investors, the share repurchase program signals the bank's confidence in its financial position and future prospects. It reflects a strategic move to enhance shareholder value, as reduced shares in circulation can lead to an increase in the earnings per share (EPS).
As the program unfolds, stakeholders will closely monitor the implications for share prices and overall market perception of Jyske Bank's management effectiveness. Additionally, the ongoing repurchase efforts can serve as a buffer against market volatility, providing an additional layer of assurance to investors.
Contact Information
For inquiries regarding the share repurchase program, please contact Birger Krøgh Nielsen, CFO at Jyske Bank, via telephone at +45 89 89 64 44.
Frequently Asked Questions
What is the duration of Jyske Bank's share repurchase program?
The program runs from June 3, 2024, to January 31, 2025.
How much is Jyske Bank planning to spend on share repurchases?
Jyske Bank aims to acquire shares valued at up to DKK 1.5 billion.
What percentage of Jyske Bank's shares will be repurchased?
The program allows for the repurchase of shares amounting to approximately 4.17% of the bank's total share capital.
How is the repurchase program structured?
The program complies with the EU Market Abuse Regulation to ensure transparency and fairness.
Who can I contact for more information about the program?
You can reach out to Birger Krøgh Nielsen, CFO of Jyske Bank, at +45 89 89 64 44.
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