Schouw & Co. Announces Major Share Buy-Back Initiative
Schouw & Co. Initiates Share Buy-Back Programme
The Board of Directors of Aktieselskabet Schouw & Co. has decided to launch an impressive share buy-back programme valued at up to DKK 120 million. This initiative aims to take place during the period from 5 May to 31 December in the upcoming years.
Background and Authorization
The establishment of this share buy-back programme follows the authorization granted to the Board of Directors during the annual general meeting. This meeting took place on 10 April, where the Board was empowered to procure treasury shares, allowing for a significant acquisition that can reach up to 20% of the company's total share capital.
Current Share Status
As of now, Schouw & Co. possesses 2,041,993 treasury shares, which corresponds to 8.17% of the existing share capital. With the current authorization, the company can purchase up to 2,958,007 treasury shares. This figure reflects approximately 11.83% of the company's total share capital, highlighting the opportunity for enhanced shareholder value through strategic financial management.
Compliance and Structure of the Programme
The buy-back programme will adhere to European regulations aimed at preventing market abuse. Specifically, it will comply with Regulation (EU) No. 596/2014, along with the Commission's delegated regulation (EU) 2016/1052. This commitment to regulatory compliance ensures that the programme will be executed responsibly and transparently in the marketplace.
Purpose of the Buy-Back
The main objective of the share buy-back programme is to effectively reduce Schouw & Co.'s share capital. By engaging in this programme, the company is taking a proactive approach to enhance overall financial stability and improve shareholder returns.
Terms of the Buy-Back
Danske Bank has been appointed as the lead manager for executing the share buy-back programme. As part of this arrangement, Danske Bank is empowered to make trading decisions independently, ensuring no undue influence or involvement from Schouw & Co.
Future Communications and Updates
Through the duration of the programme, Schouw & Co. has committed to providing weekly announcements concerning the transactions conducted under this programme. This transparency in communications underscores the company's dedication to engaging with its shareholders positively and keeping them informed.
Company Contact
If you seek further information regarding this programme, you can contact:
Jørgen Dencker Wisborg, Chairman
Jens Bjerg Sørensen, President
Telephone: +45 86 11 22 22
Frequently Asked Questions
What is the total value of the share buy-back programme announced by Schouw & Co.?
Schouw & Co. has announced a share buy-back programme valued at up to DKK 120 million.
Who has been appointed as the lead manager for the buy-back programme?
Danske Bank has been selected as the lead manager for overseeing the share buy-back programme.
What percentage of the company’s share capital can be purchased?
The company can acquire up to 20% of its total share capital under the current authorization.
How often will Schouw & Co. provide updates regarding the buy-back programme?
There will be weekly announcements about the transactions made under the buy-back programme.
What is the purpose of the share buy-back programme?
The primary aim of the programme is to reduce Schouw & Co.'s share capital and enhance shareholder value.
About The Author
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