ROCKWOOL A/S Announces Share Buyback Program Updates
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ROCKWOOL A/S Announces Share Buyback Program Updates
In a focused initiative to enhance shareholder value, ROCKWOOL A/S has kicked off a share buyback program as part of its ongoing strategy. This program, originally reported in a previous announcement, will extend from early February 2024 through early February 2025. The overall intent is to repurchase shares worth up to a total of 160 million euros.
Details of the Share Buyback Program
ROCKWOOL A/S is proceeding with this program under the framework established by the EU Commission regulations, aimed to provide certain 'Safe Harbour' conditions for such transactions. The company is committed to carefully executing these repurchases to align with its financial strategies and market conditions.
Recent Transactions Overview
Between late August and early September 2024, several transactions were made under this program, which highlights the company's active approach to managing its share capital efficiently. This period saw the ownership of B shares increase significantly, reflecting the commitment to enhancing shareholder returns.
Transaction Summary
During the review period, a total of 7,300 B shares were acquired. The following summary details these transactions:
- As of the last update, ROCKWOOL A/S had accumulated a total of 286,600 B shares, with a noteworthy aggregate amount already invested.
- Specific transactions during the week included purchasing B shares at an average price that strategically aligns with the company’s financial capabilities.
- The cumulative purchases indicate a steady increase in ownership, currently totaling 293,900 B shares, representing 1.61% of the company's total share capital.
Future Implications of the Share Buyback
The ongoing buyback program serves multiple purposes. It reflects ROCKWOOL A/S's confidence in its long-term business prospects and aims to optimize the capital structure. By reducing the number of shares in circulation, the company can potentially increase earnings per share (EPS), thus benefiting all shareholders in the long run.
Contact Information
For further inquiries, stakeholders can reach out to:
Kim Junge Andersen
Senior Vice President, CFO
ROCKWOOL A/S
+45 46 55 80 15
Frequently Asked Questions
What is the purpose of the share buyback program?
The share buyback program aims to enhance shareholder value by reducing the number of shares outstanding and demonstrating the company's financial strength and confidence in future growth.
How much is ROCKWOOL A/S planning to spend on the buyback?
The company plans to repurchase shares worth up to 160 million euros over the course of the program.
What impact do share buybacks typically have on share price?
Share buybacks can lead to an increase in share price as they reduce the supply of shares available in the market, potentially leading to higher earnings per share (EPS).
How many shares has ROCKWOOL A/S bought back to date?
As of now, ROCKWOOL A/S has bought back a total of 293,900 B shares during the program.
Who can I contact for more information about the buyback program?
For additional information, you may contact Kim Junge Andersen, Senior Vice President and CFO of ROCKWOOL A/S.
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