Genmab A/S Enhances Share Buy-back Program with Strategic Moves
Genmab A/S Enhances Share Buy-back Program with Strategic Moves
Company Announcement
COPENHAGEN, Denmark – Genmab A/S (Nasdaq: GMAB) recently shared exciting developments regarding its ongoing share buy-back initiative, aimed at repurchasing up to 2.2 million shares. This decision is a strategic move focused not only on reducing capital but also fulfilling obligations tied to the company's Restricted Stock Unit program. The initiative is anticipated to wrap up by July 2025.
Execution Timeline and Transactions
Between April 14 and April 18, a series of transactions under this buy-back program were recorded. These transactions are significant for understanding Genmab's commitment to enhancing shareholder value. Below are the highlights:
April 14 Transactions
On April 14, notable activities included purchases through various platforms. Specifically, the company acquired a total of 89,511 shares valued at approximately DKK 113,594,292.60.
April 15 Transactions
The company continued its acquisition spree on April 15, fetching another 91,900 shares. The total spent amounted to DKK 119,065,934.08, reinforcing Genmab's strategic intent to secure a favorable market position.
April 16 Transactions
Transactions on April 16 involved further buying, with a total of 90,218 shares resulting in an expenditure of about DKK 115,998,569.37. The cumulative progress in share buy-backs illustrates Genmab's proactive stance in managing its capital structure.
April 17 Transactions
No purchases took place on April 17, signaling a momentary pause as the company assesses market conditions.
April 18 Transactions
On April 18, activity resumed. The details of any purchases on that day remain pending, demonstrating ongoing engagement in securing shares.
Operational Insights
Following these rounds of execution, Genmab now holds a total of 1,808,284 shares as treasury shares, accounting for around 2.82% of total share capital and voting rights. The specificity of the program aligns with the Regulation (EU) No. 596/2014 (known as MAR) and the Commission Delegated Regulation (EU) 2016/1052, also termed the 'Safe Harbour Regulation.'
Genmab's Vision and Future Prospects
About Genmab
Established in 1999, Genmab is a biotechnology powerhouse with a clear mission: to enhance patient lives through innovative antibody therapeutics. The company prides itself on its diverse and knowledgeable team, dedicated to advancing next-generation antibody technology and developing future therapies. By 2030, Genmab aspires to transform cancer care and other serious health conditions through groundbreaking antibody medicines.
In addition to its Danish headquarters, Genmab enjoys a robust international presence across North America, Europe, and Asia Pacific, ensuring that its advancements reach patients globally.
Contact Information
For more queries or insights about the share buy-back program or other corporate matters, please contact:
Marisol Peron
Senior Vice President, Global Communications & Corporate Affairs
T: +1 609 524 0065; E: mmp@genmab.com
Andrew Carlsen
Vice President, Head of Investor Relations
T: +45 3377 9558; E: acn@genmab.com
Frequently Asked Questions
What is the primary goal of Genmab's share buy-back program?
The goal is to repurchase up to 2.2 million shares, thereby reducing capital and addressing commitments under the Restricted Stock Unit program.
How many shares did Genmab buy back between April 14 and April 18?
Genmab executed transactions acquiring a total of 271,629 shares during this period.
What is the expected completion date for the share buy-back program?
The share buy-back program is expected to conclude by July 2025.
Why is Genmab focusing on share buy-backs at this time?
This move is part of a strategic approach to strengthen shareholder value and enhance capital structure amidst market fluctuations.
Who can I contact for more information regarding Genmab's corporate announcements?
You can contact Marisol Peron or Andrew Carlsen, who oversee communications and investor relations, respectively.
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