Schouw & Co. Share Buy-Back Programme Update
Schouw & Co., a renowned player in the market, has embarked on a significant share buy-back programme. This initiative, initiated on March 4, 2024, follows the guidelines established in Company Announcement no. 13, issued on March 1, 2024. Through this programme, Schouw & Co. plans to repurchase shares amounting to a total of DKK 200 million by the end of 2024.
Structure of the Buy-Back Programme
The share buy-back executed by Schouw & Co. adheres strictly to Regulation (EU) No. 596/2014, which was enacted by the European Parliament and Council to regulate market activities effectively. Additionally, this buy-back complies with the Commission’s delegated regulation (EU) 2016/1052 that sets forth the 'Safe Harbour' rules for such transactions.
Summary of Share Transactions
As part of the buy-back efforts, several transactions were recorded in the weeks following the initiation of the programme. As of August 30, 2024, the company has acquired a total of 212,987 shares, with an average purchase price of DKK 550.59. The total expenditure from these transactions reached approximately DKK 117,268,585.
Detailed Transaction Overview
For a better understanding, here are some specifics regarding the shares acquired:
- Date: Accumulated until August 23, 2024 - Shares Acquired: 204,687 - Average Price: DKK 549.36 - Total Amount: DKK 112,446,917
- Date: August 26, 2024 - Shares Acquired: 1,500 - Average Price: DKK 585.92 - Total Amount: DKK 878,880
- Date: August 27, 2024 - Shares Acquired: 1,600 - Average Price: DKK 579.66 - Total Amount: DKK 927,456
- Date: August 28, 2024 - Shares Acquired: 1,700 - Average Price: DKK 579.00 - Total Amount: DKK 984,300
- Date: August 29, 2024 - Shares Acquired: 1,800 - Average Price: DKK 579.95 - Total Amount: DKK 1,043,910
- Date: August 30, 2024 - Shares Acquired: 1,700 - Average Price: DKK 580.66 - Total Amount: DKK 987,122
During the week spanning from August 26 to August 30, 2024, Schouw & Co. acquired an aggregate of 8,300 shares at an average price of DKK 580.92, leading to total expenditures of DKK 4,821,668.
Current Holdings and Future Implications
As a result of these ongoing transactions, Schouw & Co. currently holds 1,823,913 treasury shares, representing 7.30% of its total share capital, which stands at 25,000,000 shares. This strategic move reflects Schouw & Co.'s commitment to enhancing shareholder value and optimizing its capital structure.
Contact Information
For further inquiries regarding the share buy-back programme or other corporate matters, you can reach out to:
Aktieselskabet Schouw & Co.
Jørgen Dencker Wisborg, Chairman
Jens Bjerg Sørensen, President
Telephone: +45 86 11 22 22
Frequently Asked Questions
What is the purpose of Schouw & Co.'s share buy-back programme?
The share buy-back programme aims to enhance shareholder value by repurchasing shares in the market, which can lead to an increase in earnings per share and overall shareholder returns.
How much is Schouw & Co. planning to spend on the buy-back?
Schouw & Co. plans to spend up to DKK 200 million on the share buy-back programme until the end of 2024.
Which regulations govern the share buy-back?
The programme operates under Regulation (EU) No. 596/2014 concerning market abuse and the Commission’s delegated regulation (EU) 2016/1052, which provides the framework for such activities.
How many shares has Schouw & Co. acquired so far?
As of August 30, 2024, Schouw & Co. has acquired a total of 212,987 shares through the buy-back programme.
Who can I contact for more information about Schouw & Co.?
For inquiries, please contact Jørgen Dencker Wisborg, Chairman, or Jens Bjerg Sørensen, President, at +45 86 11 22 22.
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