Netcompany's Strategic Share Buyback Initiative Explained
Overview of Netcompany's Share Buyback Program
Netcompany Group A/S has embarked on an initiative that is not just about numbers, but encapsulates a strategic move to bolster its capital structure. Announced recently, the share buyback program aims to repurchase up to DKK 150 million worth of shares, with the goal of acquiring a maximum of 1,000,000 shares. This endeavor is designed primarily to adjust the company’s capital structure and fulfill obligations related to share-based incentive programs.
Regulatory Compliance and Timeline
The execution of the share buyback program adheres to stringent EU Market Abuse Regulations, particularly guided by EU Regulation no. 596/2014 and the provisions laid out in the Commission Delegated Regulation (EU) 2016/1052, commonly referred to as the “Safe Harbour Regulation.” This program is set to conclude no later than 29 October 2024, ensuring that all transactions align with regulatory frameworks and provide transparency to stakeholders.
Weekly Announcements of Transactions
Netcompany remains committed to keeping its investors informed; therefore, transactions carried out under this share buyback initiative are disclosed through Nasdaq Copenhagen on a weekly basis. Transparency in these activities is crucial as it builds trust and confidence among investors, demonstrating Netcompany's proactive approach in managing its capital efficiently.
Recent Transaction Highlights
During the previous week, from 13 September 2024 to 19 September 2024, a series of transactions were executed under this buyback program. The details of these transactions showcase a total buyback of 28,000 shares, with a cumulative transaction value of DKK 8,745,510. Notably, the daily execution included:
- 13 September 2024: 6,000 shares bought at an average price of DKK 309.34, totaling DKK 1,856,040.
- 16 September 2024: 6,000 shares bought at an average price of DKK 309.48, totaling DKK 1,856,880.
- 17 September 2024: 5,000 shares bought at an average price of DKK 314.76, totaling DKK 1,573,800.
- 18 September 2024: 7,000 shares bought at an average price of DKK 312.13, totaling DKK 2,184,910.
- 19 September 2024: 4,000 shares bought at an average price of DKK 318.47, totaling DKK 1,273,880.
In summary, the accumulated total of shares repurchased under the program stands at 286,300 shares, representing a significant commitment by Netcompany to return value to its shareholders and maintain a balanced capital structure.
Impact on Treasury Shares
With the culmination of these transactions, Netcompany now holds a total of 2,019,409 treasury shares, equating to approximately 4% of the total share capital. This holds profound implications for the company. By maintaining a strategic number of treasury shares, Netcompany enhances its financial flexibility and positions itself favorably for future growth and shareholder returns.
Contact Information for Inquiries
For further inquiries regarding the share buyback program or any related matters, stakeholders 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 prompted Netcompany to initiate the share buyback program?
The share buyback program was initiated to adjust the capital structure and satisfy obligations related to share-based incentive plans.
How long will the buyback program last?
The program is expected to end no later than 29 October 2024.
How are the transactions reported?
Transactions made under the buyback program are announced weekly through Nasdaq Copenhagen.
What percentage of treasury shares does Netcompany currently hold?
Netcompany holds a total of 2,019,409 treasury shares, which is about 4% of its total share capital.
Who can investors contact for more information?
Investors can reach out to Thomas Johansen or Frederikke Linde at Netcompany for any queries regarding the program.
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