Scandinavian Tobacco Group A/S Moves Forward with Share Buy-Back
Scandinavian Tobacco Group A/S has made a significant announcement regarding its share buy-back programme, which aims to bolster the company’s capital structure and fulfill obligations tied to its incentive programmes.
Details of the Share Buy-Back Programme
This programme was initiated with an impressive budget of up to DKK 850 million. The company plans to implement it in two ways: one method adheres to the European regulations, specifically Regulation No. 596/2014 and Commission Delegated Regulation (EU) 2016/1052, often termed as the Safe Harbour rules. The second method involves a directed buy-back from notable shareholders including Chr. Augustinus Fabrikker Aktieselskab and C.W. Obel A/S.
Transaction Highlights
The programme is set to conclude by 28 February 2025, with a series of transactions already having taken place between 28 October and 01 November 2024. Over this short span, the company has executed several share purchases. The total number of shares acquired was 67,867, at an average price of DKK 103.05, amounting to a staggering DKK 6,993,688.
As of the recent announcement, the accumulated total under the buy-back initiative reached 7,504,205 shares, reflecting a strong commitment to returning value to shareholders while maintaining a robust financial stance.
Total Shares Held
Following these transactions, Scandinavian Tobacco Group A/S holds a total of 6,885,954 treasury shares, representing 8.01% of its overall share capital. This significant holding showcases the company's confidence in its market position and future growth prospects.
Future Opportunities
With these strategic transactions, Scandinavian Tobacco Group aims to not only optimize its capital structure but also enhance shareholder value amidst a competitive marketplace. The company’s focus on pro-rata participation from key shareholders further underscores its strategic intent to solidify partnerships while effectively managing its share portfolio.
About Scandinavian Tobacco Group
Founded with a commitment to quality, Scandinavian Tobacco Group A/S stands as a world leader in the production of both handmade and machine-rolled cigars, producing over four billion cigars annually. The company's reach spans more than 100 markets globally, supported by a dedicated workforce of approximately 10,000 employees across various regions, including Europe and the Americas.
For those interested in learning more about the company's initiatives and offerings, further information is readily available on their official website.
Frequently Asked Questions
What is the purpose of Scandinavian Tobacco Group's buy-back programme?
The buy-back programme aims to adjust the company's capital structure and fulfill obligations related to share-based incentive programmes.
How much total value has been allocated to the buy-back programme?
The programme has an allocated budget of up to DKK 850 million.
What percentage of treasury shares does Scandinavian Tobacco Group currently hold?
The company holds 8.01% of its total share capital in treasury shares after the recent transactions.
When is the buy-back programme expected to conclude?
The buy-back programme is expected to conclude no later than 28 February 2025.
Who are the key shareholders involved in the buy-back programme?
Key shareholders involved include Chr. Augustinus Fabrikker Aktieselskab and C.W. Obel A/S, participating in the buy-back under separate agreements.
