Netcompany's Strategic Share Buyback Program Gains Momentum
Overview of Netcompany's Share Buyback Program
In a bold move to enhance its capital structure, Netcompany Group A/S has initiated a share buyback program. This initiative, aimed at purchasing up to DKK 150 million worth of shares, also includes plans to acquire a maximum of 1,000,000 shares. The purpose behind this program extends beyond mere financial maneuvers; it seeks to fulfill obligations tied to share-based incentive programs for employees, reflecting the company's commitment to its workforce.
Compliance with Regulations
Netcompany is executing this share buyback program in strict adherence to the EU Market Abuse Regulation and the provisions outlined in the Commission Delegated Regulation (EU) 2016/1052, known as the Safe Harbour Regulation. By following these regulations, Netcompany ensures that all actions are compliant and transparent, building trust with both investors and stakeholders alike. The share buyback program is expected to conclude by the end of October, solidifying the timeframe in which these transactions will take place.
Recent Share Buyback Transactions
Between the dates of September 6 and September 12, 2024, Netcompany executed several significant transactions under this buyback initiative. During this period, a total of 47,000 shares were repurchased, with a cumulative transaction value of DKK 14,118,340. The share prices for the transactions varied, showcasing market dynamics:
Details of Transactions
- Date: 06-09-2024 - 13,000 shares at DKK 295.46 per share, totaling DKK 3,840,980.
- Date: 09-09-2024 - 13,000 shares at DKK 298.63 per share, totaling DKK 3,882,190.
- Date: 10-09-2024 - 8,000 shares at DKK 302.21 per share, totaling DKK 2,417,680.
- Date: 11-09-2024 - 7,000 shares at DKK 303.63 per share, totaling DKK 2,125,410.
- Date: 12-09-2024 - 6,000 shares at DKK 308.68 per share, totaling DKK 1,852,080.
This data reflects the company's strategic approach to enhancing shareholder value while also reinforcing the attachment to its employees through share incentives.
Total Shares Owned
After the completion of these transactions, Netcompany's treasury shares have now accumulated to a total of 1,991,409 shares, which equates to approximately 4% of the company's total share capital. This figure illustrates the significant impact of the buyback program on the company's capital structure, further demonstrating its commitment to optimizing financial performance.
Maintaining Transparency with Investors
Netcompany emphasizes its dedication to transparency by committing to disclose all share buyback transactions on a weekly basis through Nasdaq Copenhagen. This level of openness allows investors to stay informed about the ongoing changes in share ownership, helping build confidence in the company's governance.
Contact Information
For any inquiries related to the share buyback program, Netcompany encourages interested parties to reach out directly to their finance team.
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 program aims to adjust Netcompany's capital structure and meet commitments related to share-based incentive programs for employees.
What regulations is Netcompany following for the program?
Netcompany is complying with the EU Market Abuse Regulation and the Safe Harbour Regulation in its share buyback operations.
How many shares has Netcompany repurchased recently?
Recently, Netcompany repurchased a total of 47,000 shares within the period of September 6 to September 12, 2024.
What percentage of total share capital do the treasury shares represent?
The treasury shares represent approximately 4% of Netcompany's total share capital.
How will Netcompany communicate the share buyback transactions?
Netcompany will announce all share buyback transactions weekly through Nasdaq Copenhagen to maintain transparency with investors.
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