Netcompany's Strategic Move: Share Buyback Programme Insights
Netcompany's Share Buyback Programme Overview
Company Announcement
No. 42/2024
On a recent date in September 2024, Netcompany Group A/S (Copenhagen: NETC) unveiled an important initiative—the launch of a share buyback programme. This move involves a substantial budget of up to DKK 150 million and aims to acquire a maximum of 1,000,000 shares. The primary goal of this programme is to effectively adjust Netcompany’s capital structure while simultaneously fulfilling its commitments related to share-based incentive plans.
Regulatory Compliance and Timeline
The execution of this share buyback programme aligns with the EU Market Abuse Regulation and other relevant legislative provisions. It is designed to operate under the guidelines of the Safe Harbour Regulation, ensuring that all transactions are within legal frameworks. Notably, Netcompany expects the programme to conclude no later than the end of October 2024, offering a clear timeline for shareholders and investors to observe progress.
Weekly Transaction Reports
To maintain transparency, all transactions performed under the buyback programme will be reported on a weekly basis through Nasdaq Copenhagen. This approach not only assures investors of real-time updates but also enhances trust in Netcompany's financial practices.
Recent Buyback Activities
Between September 20 and September 26, 2024, numerous shares were successfully repurchased under the programme. For instance, on September 20, 4,000 shares were bought at an average price of DKK 315.15, contributing a transaction value of DKK 1,260,600. The trend continued with additional repurchases on subsequent days, culminating in a total of 36,000 shares acquired within this short period, amounting to an impressive transaction value of DKK 11,044,780.
Breakdown of Recent Transactions
Here's a detailed look at the transactions made:
- September 20: 4,000 shares at DKK 315.15 resulting in DKK 1,260,600.
- September 23: 8,000 shares at DKK 308.73, totaling DKK 2,469,840.
- September 24: 9,000 shares at DKK 303.96 with a total of DKK 2,735,640.
- September 25: 10,000 shares at DKK 301.91, amounting to DKK 3,019,100.
- September 26: 5,000 shares at DKK 311.92 leading to DKK 1,559,600.
Overall, Netcompany now holds a total of 2,055,409 treasury shares, which represents approximately 4.1% of its total share capital. This strategic accumulation is a testament to the company's commitment to bolstering shareholder value.
Additional Information
For those seeking further details, Netcompany Group A/S is readily accessible. Interested parties may reach out to:
Thomas Johansen, CFO, contact number: +45 51 19 32 24
Frederikke Linde, Head of IR, contact number: +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 meet obligations related to share-based incentive programmes.
How much capital is allocated for the share buyback?
Netcompany has announced a budget of up to DKK 150 million for this programme, aiming to repurchase up to 1,000,000 shares.
When will the share buyback programme conclude?
The share buyback is expected to end by the latest on October 29, 2024.
How will investors be informed about buyback transactions?
All transactions will be reported weekly through Nasdaq Copenhagen to maintain transparency.
How many treasury shares does Netcompany currently hold?
After recent transactions, Netcompany owns a total of 2,055,409 treasury shares, which is about 4.1% of its total share capital.
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