Scandinavian Tobacco Group's Buy-Back Program: Key Developments
Exciting Updates on Share Buy-Back Programme
Scandinavian Tobacco Group A/S is actively engaged in a substantial share buy-back programme that demonstrates its commitment to enhancing shareholder value. Launched with an aggregate value of up to DKK 850 million, this initiative was designed specifically to adjust the company’s capital structure and fulfill obligations associated with its share-based incentive programme.
The Strategic Approach Behind the Buy-Back
The buy-back programme is being conducted in compliance with Regulation No. 596/2014 of the European Parliament and Council, which is part of the Market Abuse Regulation. Moreover, it incorporates the provisions of Commission Delegated Regulation (EU) 2016/1052, commonly known as the Safe Harbour rules, aimed at protecting investors and ensuring transparency.
Involvement of Key Shareholders
A significant part of the buy-back initiative will be executed as a directed buy-back from key shareholders such as Chr. Augustinus Fabrikker Aktieselskab and C.W. Obel A/S, reflecting a strategic collaboration that underscores the confidence these entities have in the future of Scandinavian Tobacco Group. The completion date for this buy-back programme is set for no later than 28 February 2025.
Recent Transactions Overview
From 30 September through 04 October, Scandinavian Tobacco Group A/S successfully completed several transactions under this buy-back programme. Here’s a summary of these notable transactions:
| Time Frame | Number of Shares | Average Purchase Price (DKK) | Transaction Value (DKK) |
| Accumulated, last announcement | 6,842,233 | 742,935,496 | |
| 30-Sep-24 | 20,000 | 103.40 | 2,068,000 |
| 1-Oct-24 | 18,000 | 103.42 | 1,861,546 |
| 2-Oct-24 | 16,309 | 103.39 | 1,686,196 |
| 3-Oct-24 | 15,165 | 102.55 | 1,555,174 |
| 4-Oct-24 | 17,900 | 103.81 | 1,858,238 |
| Total, 30 Sep – 04 Oct 2024 | 87,374 | 103.34 | 9,029,151 |
| Bought from CAF, 04 Oct 2024* | 39,682 | 103.34 | 4,100,702 |
| Bought from CWO, 04 Oct 2024* | 18,300 | 103.34 | 1,891,106 |
| Accumulated, under the programme | 6,987,589 | 757,956,454 |
Understanding Participation Pro-Rata
For any shares acquired as of 10 November 2023, Chr. Augustinus Fabrikker Aktieselskab participates at a pro-rata rate of 27.30%, while C.W. Obel A/S participates at 12.59%. This structure indicates a robust partnership that enhances the effectiveness of the buy-back strategy.
Current Shareholder Position
As a result of these transactions, Scandinavian Tobacco Group A/S now holds a total of 6,369,338 treasury shares, which corresponds to approximately 7.41% of the total share capital. This position reflects a proactive approach to managing capital and reinforces the company's commitment to its shareholders.
Contact for Further Information
If you require further details regarding this announcement or the buy-back programme, you can reach out to the team at Scandinavian Tobacco Group A/S. Torben Sand, Head of IR & Communication, is available at +45 5084 7222 or via email at torben.sand@st-group.com. For inquiries related to investor relations, Eliza Dabbagh can be contacted at +45 5080 7619 or at eliza.michael@st-group.com.
Frequently Asked Questions
What is the purpose of the share buy-back programme?
The purpose is to adjust the company's capital structure and meet obligations regarding its share-based incentive programme.
What is the total value allocated for the buy-back?
The buy-back programme has an aggregated value of up to DKK 850 million.
When is the buy-back programme expected to end?
The programme will conclude no later than 28 February 2025.
Which entities are involved in the direct buy-back?
Chr. Augustinus Fabrikker Aktieselskab and C.W. Obel A/S are key participants in this programme.
How many treasury shares does the company own after recent transactions?
Following the recent transactions, Scandinavian Tobacco Group A/S owns a total of 6,369,338 treasury shares.
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