Scandinavian Tobacco Group Expands Share Buy-Back Program

Scandinavian Tobacco Group Enhances Shareholder Value

Scandinavian Tobacco Group A/S has recently taken significant steps to bolster its capital structure through a well-planned share buy-back program. This initiative aims to enhance shareholder value and support the management of obligations related to the company’s employee share-based incentive programs.

Overview of the Share Buy-Back Program

On its announcement in November, Scandinavian Tobacco Group detailed their intention to conduct a share buy-back program with a remarkable total value of up to DKK 850 million. The primary goal behind this program is to adjust the company’s capital structure effectively while adhering to the regulations outlined in the Market Abuse Regulation and the Safe Harbour rules. Moreover, the program includes a directed buy-back from prominent partners, Chr. Augustinus Fabrikker Aktieselskab and C.W. Obel A/S.

Transaction Details from 23 to 27 September 2024

The company has carried out several key transactions during the specified period. A total of 93,047 shares were repurchased, accumulating a significant value for Scandinavian Tobacco Group within a span of just a few days. The average purchase price during this transaction period registered at approximately DKK 103.79 per share, culminating in a total transaction value of DKK 9,657,497.

Breakdown of Recent Transactions

On September 23, 2024, the Group acquired 20,000 shares priced at DKK 104.00 each. The same quantity was purchased on the subsequent day at the same price, followed by 20,000 shares the next day, priced at DKK 103.30. The buying continued, with additional shares acquired on 26 September at DKK 103.60, and 13,047 shares on 27 September at DKK 104.20, showcasing a consistent commitment to the buy-back program.

Program Completion and Future Outlook

The share buy-back program is set to conclude no later than 28 February 2025, providing a structured timeline for the company to manage its repurchases. As of the latest announcement, Scandinavian Tobacco Group has acquired a total of 6,842,233 shares, representing 7.24% of its total share capital, elevating the ownership and confidence shareholders have in the company.

Shareholder Communication

Encouraging transparency and open communication, Scandinavian Tobacco Group consistently provides updates regarding its transactions and shares insights on its operational strategies. The company's IR and Communication team is readily available to address inquiries and engage with stakeholders, ensuring all parties remain informed as the program progresses.

About Scandinavian Tobacco Group A/S

Scandinavian Tobacco Group A/S stands as a titan in the global market, renowned for its extensive production of handmade and machine-rolled cigars, delivering over four billion units annually. With a significant presence in over 100 markets, it establishes itself as a leading manufacturer, retaining outstanding market shares in various categories.

Headquartered in Copenhagen, Denmark, the company boasts a diverse workforce of around 10,000 employees, spread across multiple countries including the US, Canada, and several locations throughout Europe and Latin America. This expansive operational network allows Scandinavian Tobacco Group to meet the evolving demands of its international clientele while maintaining its commitment to quality and innovation.

Frequently Asked Questions

What is the main goal of Scandinavian Tobacco Group's buy-back program?

The main goal is to adjust the company’s capital structure and satisfy obligations related to its share-based incentive program.

How many shares were repurchased between September 23-27, 2024?

A total of 93,047 shares were repurchased during that period.

What was the average purchase price of the shares during this timeframe?

The average purchase price was approximately DKK 103.79 per share.

What percentage of total share capital does the buy-back represent?

It represents 7.24% of the total share capital of Scandinavian Tobacco Group.

How many employees does Scandinavian Tobacco Group have?

The company employs approximately 10,000 people across different countries.

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