Launch of Share Buyback Program
Company Announcement
Netcompany Group A/S has officially announced the initiation of a share buyback program amounting to DKK 500 million. This strategic decision by the Board of Directors comes as part of the company's efforts to refine its capital structure as well as to fulfill its commitments related to share-based incentive programs.
Details of the Share Buyback
This buyback initiative has received authorization from the general meeting held on 2 March 2023 and will allow the purchase of treasury shares valued at up to 10% of Netcompany’s total share capital. The program is set to be active until 2 March 2028 and will conclude no later than 30 January 2026.
Execution Under Regulatory Framework
In line with EU regulations, the buyback operations will comply with the EU Market Abuse Regulation and relevant provisions under the Safe Harbour Regulation. This ensures transparency and regulatory adherence while executing the buyback.
Management of the Buyback Program
Netcompany has appointed Danske Bank A/S as the primary manager for this share buyback program. Under this arrangement, Danske Bank A/S is responsible for executing the buybacks independently, making essential trading decisions without influence from Netcompany.
Terms and Conditions of the Buyback
The implementation of the share buyback program will adhere to specific terms, which include:
- A maximum total consideration of DKK 500 million for the purchased shares.
- A limit of acquiring up to 3,700,000 shares.
- Purchases made per daily market session will not exceed 25% of the average daily trading volume over the past 20 trading days on Nasdaq Copenhagen.
- Shares cannot be bought back if the price exceeds the greater of the last independent transaction price or the highest independent bid on the Nasdaq Copenhagen.
Transparency and Reporting
Netcompany commits to providing weekly updates on transactions made as part of the buyback program, fully complying with the reporting obligations tied to the regulatory framework. This helps keep shareholders informed about the ongoing activities under this initiative.
Possible Termination of the Program
Notably, Netcompany retains the right to terminate this buyback program at any time. Any decision to end the program will be communicated promptly via Nasdaq Copenhagen, if required.
Treasury Shares Held by Netcompany
As of this announcement, Netcompany holds 369,510 treasury shares, which represents approximately 0.8% of its overall share capital. This portion reflects the company’s ongoing commitment to optimizing its capital structure.
Contact Information for Inquiries
For more information, interested parties can reach out to:
Netcompany Group A/S
Thomas Johansen, CFO, +45 51 19 32 24
Frederikke Linde, Head of IR, +45 60 62 60 87
Frequently Asked Questions
What is the purpose of the share buyback program?
The buyback program aims to adjust Netcompany’s capital structure and meet obligations related to share-based incentives.
How much budget is allocated for the buyback?
Netcompany has allocated up to DKK 500 million for the share buyback program.
Who manages the share buyback program?
Danske Bank A/S has been appointed as the lead manager of the share buyback program.
When will the buyback program end?
The program is expected to conclude by 30 January 2026 at the latest.
How many shares can be bought back?
Up to 3,700,000 shares may be purchased during this buyback initiative.
