Update on Stock Buyback Program of PARKEN Sport & Entertainment A/S
On February 4, 2025, PARKEN Sport & Entertainment A/S announced an ambitious stock buyback program, intending to repurchase shares worth 30 million DKK, targeting a maximum of 400,000 shares each with a nominal value of 20 DKK. This program is set to run from February 4, 2025, until December 31, 2025, as outlined in company announcement number 2/2025.
Regulatory Framework for Buyback Program
The buyback program adheres to Article 5 of the European Parliament and Council Regulation (EU) No. 596/2014 from April 16, 2014, along with Chapter II of the Commission's Delegated Regulation (EU) 2016/1052 dated March 8, 2016. These regulations, often referred to as the "Safe Harbour rules," provide a secure environment for the implementation of the buyback program without compromising market stability.
Transactions Executed in Week 15
During week 15 of 2025, significant transactions took place under the stock buyback initiative. The total number of shares repurchased is an important metric that highlights the ongoing commitment of PARKEN Sport & Entertainment A/S to enhance shareholder value.
Transacted Shares Overview
Here’s a summary of the transactions:
- Accumulated from Previous Announcement: 2,100 shares at an average price of 129.9910 DKK, with a transaction value of 272,981.03 DKK.
- April 7, 2025: 1,700 shares at an average price of 124.5407 DKK, resulting in a transaction value of 211,719.24 DKK.
- April 8, 2025: 648 shares at an average price of 129.2496 DKK, totaling 83,753.76 DKK.
- April 9, 2025: 463 shares at an average price of 130.0000 DKK, equating to 60,190.00 DKK.
Total Accumulated in Week 15
In total, 2,811 shares were repurchased in week 15, with an average purchase price of 126.5254 DKK and a total transaction value of 355,663.00 DKK.
The cumulative total of shares repurchased under this buyback program now stands at 4,911 shares, at an average price of 128.0073 DKK, equating to a total value of 628,644.03 DKK.
Impact of Share Repurchases
As a direct consequence of these transactions, the total number of its own shares held by PARKEN Sport & Entertainment A/S correspondingly reflects 0.04973% of its share capital. This figure, combined with the existing holding of 105,689 shares, represents a total of 1.07025% of the company’s share capital. Such strategic maneuvers serve not only to bolster shareholder confidence but also to enhance the overall market position of PARKEN.
Conclusion
The stock buyback program executed by PARKEN Sport & Entertainment A/S signifies a proactive approach towards managing its capital structure and delivering value to its shareholders. As the company progresses through the buyback timeframe, market participants will closely monitor further developments and performance indicators relating to this initiative. The commitment demonstrated through these repurchases indicates a robust outlook for PARKEN in the gaming and entertainment sector.
Best regards,
PARKEN Sport & Entertainment A/S
Henrik Møgelmose
Chairman of the Board
Frequently Asked Questions
What is the purpose of a stock buyback program?
A stock buyback program allows a company to purchase its own shares from the marketplace, which can help increase the value of remaining shares by reducing supply.
How does PARKEN Sport & Entertainment A/S benefit from this program?
The buyback program helps boost shareholder confidence, enhances earnings per share, and can mitigate stock price volatility.
What are the details of the recent transactions?
During week 15, 2,811 shares were repurchased, totaling a transaction value of 355,663.00 DKK.
How many shares has PARKEN repurchased in total?
So far, PARKEN has repurchased 4,911 shares under this buyback program.
When does the current stock buyback program end?
The program is scheduled to conclude by December 31, 2025.
