Scandinavian Tobacco Group Updates on Share Buy-back Activities
Scandinavian Tobacco Group's Share Buy-back Program Overview
Scandinavian Tobacco Group A/S has recently made headlines with its proactive management of share buy-back activities. The company initiated a share buy-back program worth up to DKK 850 million aimed at adjusting its capital structure and fulfilling responsibilities tied to the firm’s share-based incentive program.
Purpose and Regulatory Compliance of the Program
Launched in November, the buy-back program complies with the European Market Abuse Regulation (MAR) and the Commission Delegated Regulation EU 2016/1052, also known as the Safe Harbour rules. This ensures that the transactions conducted comply with the legal frameworks in place, protecting the integrity of the market.
Participation of Major Shareholders
A significant portion of this buy-back effort is conducted through a directed buy-back from major shareholders, including Chr. Augustinus Fabrikker Aktieselskab and C.W. Obel A/S. As detailed in a previous company announcement, these arrangements solidify the company's commitment to maximize shareholder value while adhering to regulatory guidelines.
Recent Transactions Overview
In examining the recent transactions conducted from 23 to 27 September, the company reported the execution of key share buy-back activities.
Details of Recent Transactions
Diving into the specifics, the transactions executed during this period revealed a total purchase of 93,047 shares at an average price of DKK 103.79, accumulating a transaction value of DKK 9,657,497. This was a strategic move to strengthen the company's standing in the market.
Accumulated Treasury Shares
As of the conclusion of the buy-back activities on 27 September, Scandinavian Tobacco Group A/S now holds a total of 6,223,982 treasury shares, equating to approximately 7.24% of the company's total share capital. This marks a continued effort to uphold solid financial performance and shareholder engagement.
Future Outlook of the Buy-back Program
The share buy-back program is set to conclude no later than the end of February 2025, allowing for further capital adjustments in alignment with market conditions and corporate strategies. The completion of this program is expected to have a lasting impact on shareholder value and the capital structure of the company.
Company Insights and Contact Information
In closing, Scandinavian Tobacco Group A/S is recognized as a world-leading manufacturer of cigars, producing over four billion units annually. The company boasts a strong presence globally, employing around 10,000 individuals across several continents, including Europe and the Americas.
For additional inquiries regarding this announcement or the company’s activities, interested parties can reach out to:
Torben Sand, Head of IR & Communication, phone +45 5084 7222 or email torben.sand@st-group.com.
Eliza Dabbagh, IR and Communication, phone +45 5080 7619 or email eliza.michael@st-group.com.
Frequently Asked Questions
What is the purpose of Scandinavian Tobacco Group's buy-back program?
The buy-back program aims to optimize the company's capital structure and fulfill obligations related to its share-based incentive program.
How much is Scandinavian Tobacco Group planning to spend on the buy-back?
The program has an aggregated value of up to DKK 850 million allocated for share repurchases.
Who are the major shareholders participating in the buy-back?
The major shareholders involved include Chr. Augustinus Fabrikker Aktieselskab and C.W. Obel A/S, who participate on a pro-rata basis.
What has been the impact of the recent transactions on the number of treasury shares?
As of 27 September, the company owns 6,223,982 treasury shares, representing 7.24% of its total share capital.
When is the buy-back program expected to end?
The buy-back program is projected to conclude no later than 28 February 2025.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.
Related Articles
- Plasma Fractionation Market Projected to Reach $63.27 Billion
- Putnam Investments Outlines Latest Distribution Rates for Funds
- FMC Corporation Partners with Ballagro to Boost Crop Protection
- Neeve's $15 Million Funding Boosts Smart Building Innovation
- WNS and Uniqus Collaborate on Sustainable Accounting Solutions
- Schouw & Co. Announces Progress in Share Buy-Back Plan
- kdc/one Expands Cosmetics Packaging through Laffon Acquisition
- Electrosoft Secures Major Contract with DLA for IT Services
- Advent International Welcomes Carmine Di Sibio as New Leader
- Inspire Agency Partners with Ritedose Corporation for Growth
Recent Articles
- Advocating for Education Reform in Texas: The Need for Change
- Insights from MannKind's INHALE-3 Study on Afrezza's Efficacy
- Dr. Robert Langer Strengthens Klotho Neurosciences' Vision
- Groundbreaking Results from Phase 3 Study of HLX11 Biosimilar
- Medallion Bank Teams Up with Kashable for Financial Innovation
- Insulet Corporation Plans Financial Results Conference Call
- reAlpha Tech Selects Xmore AI for Innovative Cybersecurity Boost
- The GEO Group Sets Q3 2024 Earnings Date and Call Details
- Leapmotor International Expands Electric Vehicle Options in Europe
- Engaging EV Drivers: Shell Recharge Partners with Curiosity Stream
- Walker & Dunlop Earns Spot on Fortune's Best Workplaces List
- Orchestra Enhances Public Affairs and Advocacy Strategies
- Kennedy Wilson Expands Student Housing Financing by $184M
- Natra and Gudrun Unite to Form a Premier Chocolate Portfolio
- Key Insights on Bumble Inc.'s Legal Challenges and Future Prospects
- Essity's Impressive Buyback of Class B Shares in Week 39
- Socket Mobile Introduces New XtremeScan Scanners for iPhone 16
- Innovative Partnership in Cannabis Cultivation Takes Shape
- SourceAmerica's Campaign for Workplace Inclusion Shines Bright
- Socket Mobile's XtremeScan Now Offers iPhone 16 Compatibility
- Toxin Free USA Takes Action Against Kimberly-Clark's Kotex
- Celebrating Edith Renfrow Smith: A Legacy of Excellence
- Global M&A Activity Soars as Mega Deals Boost Confidence
- AudioEye Boosts Accessibility with Strategic Acquisition
- Emeren Group's Solar Project Sale Sparks Growth in Renewable Energy
- Navigating Growth Challenges for Triple Flag Precious Metals
- Advanced Cooling Technologies Secures Federal Funding for Innovation
- Gore Associates Unveils Promising Three-Year Clinical Outcomes
- Tenable Holdings: Navigating Challenges in Cyclical Markets
- KBR Schedules Conference Call to Discuss Q3 2024 Earnings
- Navigating Triumph Group's Challenges and Future Prospects
- Brookdale Senior Living's Strategic Acquisition of 41 Communities
- AV-Comparatives Reveals Key Insights from 2024 Cybersecurity Report
- How Truist Financial is Shaping its Future: Key Insights
- Teleflex: An Insightful SWOT Analysis on Future Growth Opportunities
- Terns Pharmaceuticals Boasts Strong Pipeline and Market Prospects
- Teradyne Inc: Navigating AI Growth in Semiconductor Testing
- TELA Bio's Growth Strategies: Innovations and Market Challenges
- Teva Pharmaceutical's Dynamic Strategies for Future Success
- Analyzing Terex Corporation's Competitive Landscape and Future
- Exploring High-Dividend REIT Opportunities in Market Shifts
- IVECO BUS Expands Electric Mobility Contracts in France
- BitFuFu Highlights Growth and Innovation at Investment Conference
- Veterinary Arthroscopy Devices Set to Transform Animal Healthcare
- Exploring Growth Potential in South Africa's Asset Management
- Albion Development VCT PLC Expands Capital with New Shares
- Albion Development VCT Initiates New Shareholding Announcements
- Understanding the Endava plc Class Action: Key Information for Investors
- Methode Electronics Faces Class Action Lawsuit: Key Details
- Protecting Your Investments: Stellantis Class Action Insights