Overview of Netcompany's Share Buyback Program
Netcompany Group A/S has launched a significant initiative aimed at strengthening its capital structure. Recently announced, this share buyback program plans to repurchase shares worth up to DKK 150 million, with a maximum target of 1,000,000 shares. The primary purpose of this initiative is to optimize the company’s capital framework while fulfilling commitments related to its share-based incentive programs.
Regulatory Compliance and Timeline
The share buyback program will operate in full compliance with stringent EU Market Abuse Regulations, guided by EU Regulation no. 596/2014 and the rules set out in the Commission Delegated Regulation (EU) 2016/1052, commonly known as the “Safe Harbour Regulation.” The program is scheduled to conclude by 29 October 2024, ensuring all activities are transparent and adhere to regulatory standards.
Weekly Announcements of Transactions
Netcompany prioritizes transparency with its investors. To keep everyone informed, all transactions under this buyback program will be disclosed on a weekly basis via Nasdaq Copenhagen. This commitment to transparency helps build trust and confidence among investors, highlighting Netcompany's proactive efforts in managing its capital effectively.
Recent Transaction Highlights
In the week from 13 September 2024 to 19 September 2024, several transactions took place as part of the buyback program. These transactions reflect a total buyback of 28,000 shares, totaling DKK 8,745,510. Here’s a breakdown of the daily transactions:
- 13 September 2024: 6,000 shares acquired at an average price of DKK 309.34, totaling DKK 1,856,040.
- 16 September 2024: 6,000 shares acquired at an average price of DKK 309.48, totaling DKK 1,856,880.
- 17 September 2024: 5,000 shares acquired at an average price of DKK 314.76, totaling DKK 1,573,800.
- 18 September 2024: 7,000 shares acquired at an average price of DKK 312.13, totaling DKK 2,184,910.
- 19 September 2024: 4,000 shares acquired at an average price of DKK 318.47, totaling DKK 1,273,880.
In total, Netcompany has repurchased 286,300 shares under this program, demonstrating a strong commitment to delivering value back to its shareholders and ensuring a well-balanced capital structure.
Impact on Treasury Shares
Following these transactions, Netcompany now possesses a total of 2,019,409 treasury shares, which represents about 4% of its entire share capital. This strategic holding of treasury shares enhances the company’s financial flexibility and positions it well for future growth and shareholder benefits.
Contact Information for Inquiries
For more information regarding the share buyback program or related questions, stakeholders can contact:
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?
Netcompany initiated the share buyback program to optimize its capital structure and fulfill obligations related to share-based incentive plans.
How long will the buyback program last?
The buyback program is expected to conclude no later than 29 October 2024.
How are the transactions reported?
Transactions carried out under the buyback program are reported weekly via Nasdaq Copenhagen.
What percentage of treasury shares does Netcompany currently hold?
Currently, Netcompany holds 2,019,409 treasury shares, which is approximately 4% of its total share capital.
Who can investors contact for more information?
Investors can contact Thomas Johansen or Frederikke Linde at Netcompany for any questions regarding the program.
