Scandinavian Tobacco Group Launches Strategic Share Buy-Back Program
Scandinavian Tobacco Group A/S has initiated a significant share buy-back program designed to strengthen its capital structure and meet obligations related to its share-based incentive program. This announcement, made on November 10, 2023, reveals a robust buy-back plan with a total allocation of up to DKK 850 million.
Compliance and Structure of the Buy-Back Program
The execution of this program will comply with relevant regulations, including Regulation No. 596/2014 from the European Parliament and the associated Commission Delegated Regulation (EU) 2016/1052, often referred to as the Safe Harbour rules. A notable feature of this initiative is a directed buy-back arrangement involving specific shareholders, which complements the overall strategy.
Overview of Transactions from September 2 to September 6, 2024
During the ongoing share buy-back efforts, several transactions took place between September 2 and September 6, 2024. The data collected from this period reflects the company's dedication to delivering value to its shareholders while effectively managing its capital resources.
Details of the Transactions
The report outlines the following transaction details from this period: Prior to this report, a total of 6,210,272 shares were purchased, with a transaction value of DKK 676,386,129. Specifically, the transactions included:
- On September 2, 2024, the company purchased 15,000 shares at an average price of DKK 107.20, resulting in a total transaction value of DKK 1,608,000.
- On September 3, 2024, 20,000 shares were acquired at an average price of DKK 106.20, totaling DKK 2,124,000.
- On September 4, 2024, another 20,000 shares were bought at DKK 104.80, amounting to DKK 2,096,000.
- On September 5, 2024, an additional 20,000 shares were purchased at DKK 106.60, resulting in a transaction value of DKK 2,132,000.
- Finally, on September 6, 2024, 17,991 shares were acquired at an average cost of DKK 105.60, contributing DKK 1,899,845 to the total buy-back amount.
In total, 92,991 shares were acquired during this period, with an overall transaction value of DKK 9,859,845, reflecting a strategic approach to share repurchases.
Key Shareholder Contributions
This buy-back initiative also saw significant involvement from major shareholders. According to the agreements established in November 2023, Chr. Augustinus Fabrikker Aktieselskab (CAF) maintained a pro-rata share of 27.30%, while C.W. Obel A/S (CWO) held a 12.59% stake in the shares acquired through this program. These contributions highlight the collaborative nature of the buy-back effort.
Ownership and Commitment to Corporate Responsibility
Following the transactions, Scandinavian Tobacco Group A/S currently holds a total of 5,746,722 treasury shares, which represents approximately 6.68% of the total share capital. This figure underscores the company’s ongoing commitment to effectively managing its equity while enhancing shareholder value.
For Further Inquiries
For additional information regarding these buy-back transactions or any other inquiries, interested individuals can contact:
Torben Sand, Head of IR & Communication, at +45 5084 7222 or via email at torben.sand@st-group.com.
Eliza Dabbagh, IR and Communication, is also available at +45 5080 7619 or via email at eliza.michael@st-group.com.
Frequently Asked Questions
What is the purpose of the share buy-back program?
The program is designed to adjust the company's capital structure while fulfilling incentive obligations.
How much has been allocated for the buy-back?
The total allocation for this buy-back initiative is up to DKK 850 million.
Who are the main participants in the buy-back program?
Key participants include Chr. Augustinus Fabrikker Aktieselskab (CAF) and C.W. Obel A/S (CWO).
What is the total number of treasury shares held by Scandinavian Tobacco Group A/S?
The company currently holds 5,746,722 treasury shares.
How can investors obtain more information about these transactions?
Investors can reach out to Torben Sand or Eliza Dabbagh for further details regarding the buy-back initiative.
