Netcompany Announces Share Buyback Programme
Company Announcement
Today, Netcompany Group A/S has revealed an exciting development for its shareholders. The Board of Directors has approved a share buyback programme valued at up to DKK 250m. This initiative is designed not only to optimize the company’s capital structure but also to fulfill obligations arising from share-based incentive schemes.
Objectives and Authorizations
The authorization for this buyback programme was granted during the general meeting held in early March last year, and it remains valid until early March 2028. During this period, Netcompany is authorized to buy back shares amounting up to 10% of its total share capital. This move reflects the company's commitment to maintaining financial flexibility and enhancing shareholder value.
Execution and Management of the Programme
This share buyback series is set to conclude by late January 2025. It will be executed in strict compliance with the EU Market Abuse Regulation and relevant regulations. To ensure a smooth process, Netcompany has engaged Nordea Danmark, Filial af Nordea Bank Abp, Finland as the lead manager. Nordea will independently handle the share buyback transactions, ensuring that Netcompany's interests are effectively represented without any direct influence.
Terms of the Share Buyback
The conditions under which the share buyback will be implemented are transparent and investor-friendly:
- The total expenditure for acquiring shares shall not exceed DKK 250m.
- A maximum of 1,300,000 shares will be repurchased.
- Purchases per market session will be capped at 25% of the average daily trading volume from the previous 20 trading days.
- Investments will occur at prices that do not go beyond the higher of the last independent trade price or the highest independent bid on Nasdaq Copenhagen A/S.
Ongoing Reporting and Transparency
Netcompany is dedicated to transparency and will report transactions made under this buyback programme weekly, adhering to the established reporting duties laid out by the Safe Harbour Regulation. This provides shareholders with timely updates on the programme’s progress and investment approach.
Right to Terminate the Programme
It is worth noting that Netcompany retains the right to terminate the buyback programme prematurely. Any such decision would be communicated through official channels, ensuring all stakeholders are kept informed.
Current Treasury Stocks
As of now, Netcompany holds a total of 2,228,909 treasury shares, which amounts to approximately 4.5% of its entire share capital. This strategy underscores the company’s proactive measures to manage its equity and bolster shareholder returns.
Contact Information
For those seeking further insights or have inquiries regarding the share buyback programme, please 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 Netcompany's share buyback programme?
The programme aims to adjust Netcompany's capital structure and fulfill obligations related to share-based incentive programs.
How much money is allocated for the share buyback?
Netcompany has allocated up to DKK 250 million for this buyback initiative.
When will the share buyback programme conclude?
The programme is set to conclude no later than January 24, 2025.
Who manages the share buyback transactions?
The lead manager for the share buyback is Nordea Danmark, which will independently execute trades on behalf of Netcompany.
What percentage of shares can be bought back daily?
The maximum number of shares that can be repurchased per daily session will not exceed 25% of the average daily volume traded over the last 20 trading days.
