Overview of Netcompany's Share Buyback Programme
Netcompany Group A/S (“Netcompany”) has launched a substantial share buyback programme designed to improve its capital structure and meet commitments related to share-based incentive programmes. This initiative aims to repurchase shares valued at up to DKK 150 million, with a maximum of 1,000,000 shares to be bought back. The announcement was made public in mid-August 2024.
Compliance with Regulations
The execution of the share buyback programme is fully compliant with the EU Market Abuse Regulation and other pertinent legislative requirements. Netcompany follows EU Regulation no. 596/2014 and the Commission Delegated Regulation (EU) 2016/1052. These regulations ensure that the buyback activities are carried out legally and transparently, safeguarding the interests of investors.
Buyback Programme Timeline
This buyback initiative is set to continue until the end of October 2024. Throughout this period, updates on transactions conducted under the programme will be shared weekly via Nasdaq Copenhagen. These regular updates are intended to keep shareholders and market participants informed about the progress of the buyback.
Details of Transactions
From August 14 to August 21, 2024, several transactions took place under the share buyback programme. Here are the key details of these transactions:
Breakdown of Transactions
The following table summarizes the shares repurchased during the specified period:
Transaction Date: August 14, 2024, Shares Purchased: 13,000, Average Purchase Price (DKK): 302.78, Total Transaction Value (DKK): 3,936,140.
Transaction Date: August 15, 2024, Shares Purchased: 14,300, Average Purchase Price (DKK): 292.76, Total Transaction Value (DKK): 4,186,468.
Transaction Date: August 16, 2024, Shares Purchased: 15,000, Average Purchase Price (DKK): 295.51, Total Transaction Value (DKK): 4,432,650.
Transaction Date: August 19, 2024, Shares Purchased: 16,000, Average Purchase Price (DKK): 296.18, Total Transaction Value (DKK): 4,738,880.
Transaction Date: August 20, 2024, Shares Purchased: 13,000, Average Purchase Price (DKK): 302.87, Total Transaction Value (DKK): 3,937,310.
Transaction Date: August 21, 2024, Shares Purchased: 13,000, Average Purchase Price (DKK): 300.95, Total Transaction Value (DKK): 3,912,350.
Cumulative Purchase Totals
By the conclusion of the reporting period, a total of 84,300 shares had been repurchased, with a cumulative transaction value of 25,143,798 DKK. This reflects Netcompany's dedication to enhancing shareholder value through its strategic share repurchase efforts.
Ownership of Treasury Shares
After completing the transactions mentioned above and the vesting of Restricted Stock Units (RSUs), Netcompany now holds a total of 1,817,409 treasury shares, which accounts for approximately 3.6% of the company's total share capital. This demonstrates the company's strategic approach to capital management, allowing it to remain flexible while pursuing growth opportunities.
Contact Information
For any inquiries regarding the share buyback programme or other corporate matters, stakeholders can get in touch with:
Netcompany Group A/S
Thomas Johansen, CFO, Phone: +45 51 19 32 24
Frederikke Linde, Head of IR, Phone: +45 60 62 60 87
Frequently Asked Questions
What is the purpose of Netcompany's share buyback programme?
The programme is designed to adjust the capital structure and fulfill obligations related to share-based incentive programmes.
How much is Netcompany planning to spend on the share buyback?
The company intends to allocate up to DKK 150 million for the share buyback.
How many shares does Netcompany plan to repurchase?
Netcompany has established a maximum limit of 1,000,000 shares for the buyback programme.
When is the share buyback programme expected to conclude?
The share buyback programme is scheduled to end by the end of October 2024.
How will the market be informed about the transactions?
Details of the transactions will be announced weekly through Nasdaq Copenhagen.
