NKT Launches Strategic Share Buyback for Employee Incentives
NKT Launches Strategic Share Buyback for Employee Incentives
Company Announcement
NKT A/S has initiated a share buyback program aimed at meeting its obligations linked to the employee share-based incentive schemes. This decision was approved by the Board of Directors and is a significant step towards engaging and rewarding its workforce.
Details of the Share Buyback Program
The share buyback will be conducted under the authority granted during the Annual General Meeting held on 25 March 2021. This authorisation allows the company to buy back shares up to a nominal value of 10% of its share capital and is valid until 31 March 2026.
The primary objective of this buyback initiative is to fulfill the company’s obligations related to its employee share incentive programs. NKT is committed to ensuring that its employees are rewarded for their contributions, and this initiative is a key part of that strategy.
Launch of the Employee Share Program
At the recent Annual General Meeting and through previous communications, NKT has indicated plans for an employee share program set to launch in June. The company has now officially confirmed this rollout, aligning it with the share buyback program designed to support it.
Execution Timeline and Details
The share buyback program is scheduled to commence on 22 May 2025 and will conclude no later than 20 June 2025. During this timeframe, NKT A/S plans to buy back a maximum of 268,949 shares, adhering to the regulations set forth by the European Parliament and Council (MAR) as well as the Commission Delegated Regulation (EU) 2016/1052, also known as the Safe Harbour rules.
Terms of the Buyback
To carry out this buyback effectively, NKT A/S has appointed Nordea Denmark as the lead manager responsible for executing trades. This independent management ensures that trading decisions are made without the company's direct involvement, thereby maintaining transparency and compliance.
Under the terms of this program, up to 268,949 shares can be repurchased, equivalent to 0.50% of NKT A/S's current share capital. The total financial commitment for the buyback is set at a maximum of DKK 175 million.
NKT A/S will also adhere to specific trading rules, which include not purchasing shares at a price exceeding the highest of the latest independent trade price or the current independent bid on Nasdaq Copenhagen. Furthermore, the company has set limits on the number of shares that can be bought back each day, capping it at 25% of the average daily trading volume over the preceding 20 days.
Contact Information
For inquiries related to this announcement or any investor relations matters, please reach out to:
Investors
Jacob Johansen, Head of Investor Relations
+45 2169 3591 / jacob.johansen@nkt.com
Press
Pelle Fischer-Nielsen, External Communications Lead
+45 2223 5870 / pelle.fischer-nielsen@nkt.com
Frequently Asked Questions
What is the purpose of NKT's share buyback program?
The share buyback program aims to meet obligations for share-based incentive programs for employees.
How long will the share buyback program last?
The program will run from 22 May 2025 to no later than 20 June 2025.
Who is managing the share buyback program?
NKT A/S has appointed Nordea Denmark as the lead manager for the share buyback, making independent trading decisions.
How many shares will NKT repurchase?
NKT plans to repurchase up to 268,949 shares, constituting 0.50% of its current share capital.
What regulations govern the share buyback program?
The program is conducted in compliance with Regulation No. 596/2014 of the European Parliament and the Commission Delegated Regulation (EU) 2016/1052.
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