Netcompany's Share Buyback Program Boosts Capital Structure
Overview of Netcompany's Buyback Program
Netcompany Group A/S, a prominent player in the technology and IT consulting sector, recently initiated an impactful share buyback program. This program, disclosed in August, aims to repurchase up to DKK 150 million worth of shares, equivalent to a maximum of 1,000,000 shares. This strategic move is designed not only to adjust the company's capital structure but also to fulfill obligations related to share-based incentive programs, a key aspect of employee motivation and retention.
Compliance with Regulatory Framework
The share buyback is being conducted in strict accordance with the EU Market Abuse Regulation, highlighting the company’s commitment to transparency and regulatory compliance. This initiative, guided by EU Regulation No. 596/2014 and the Safe Harbour Regulation under Commission Delegated Regulation (EU) 2016/1052, underscores Netcompany's intent to operate with integrity while managing its financial strategies.
Recent Transactions Under the Buyback Program
From October 4th to October 10th, 2024, several noteworthy transactions were conducted. During this brief period, the company bought back a total of 52,000 shares, accumulating a transaction value of DKK 15,580,150. These transactions serve as a testament to Netcompany's proactive steps in managing its capital. Below are the details of each transaction:
Transaction Summary
The following are the transactions executed:
- October 4, 2024: 10,000 shares at DKK 301.51 each, total DKK 3,005,100
- October 7, 2024: 10,000 shares at DKK 300.90 each, total DKK 3,009,000
- October 8, 2024: 10,000 shares at DKK 299.96 each, total DKK 2,999,600
- October 9, 2024: 11,000 shares at DKK 299.98 each, total DKK 3,299,780
- October 10, 2024: 11,000 shares at DKK 296.97 each, total DKK 3,266,670
Accumulated Shares and Future Expectations
As a result of these transactions, along with vesting RSUs, Netcompany now holds a total of 2,149,409 treasury shares, which represents approximately 4.3% of the company's entire share capital. This position reflects the company's strengthened financial footing and ongoing commitment to enhancing shareholder value.
For Further Information
For those seeking detailed insights into the company’s buyback activities or further information about Netcompany's operations, the company encourages inquiries through the following contacts:
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 program?
The share buyback program aims to adjust the company’s capital structure and meet obligations related to employee incentive programs.
How many shares is Netcompany planning to buy back?
Netcompany plans to repurchase up to 1,000,000 shares under the buyback program.
When will the buyback program conclude?
The share buyback program is expected to end no later than October 29, 2024.
How much value has been accumulated from recent transactions?
As of the latest transactions, DKK 15,580,150 has been spent on buying back shares.
How many treasury shares does Netcompany currently own?
Netcompany currently owns 2,149,409 treasury shares, equivalent to 4.3% of its total share capital.
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