Update on Schouw & Co.'s Share Buy-Back Programme
Schouw & Co., a well-known entity in the market, has launched a substantial share buy-back programme. This initiative began on March 4, 2024, in accordance with the guidelines outlined in Company Announcement no. 13, released on March 1, 2024. Through this programme, Schouw & Co. intends to repurchase shares totaling DKK 200 million by the end of 2024.
Details of the Buy-Back Programme
The share buy-back conducted by Schouw & Co. fully complies with Regulation (EU) No. 596/2014, which was established by the European Parliament and Council to effectively oversee market activities. Furthermore, this buy-back aligns with the Commission’s delegated regulation (EU) 2016/1052, which outlines the 'Safe Harbour' rules governing such transactions.
Overview of Share Transactions
In the weeks following the launch of the programme, several transactions have been recorded as part of the buy-back efforts. As of August 30, 2024, the company has successfully acquired a total of 212,987 shares, with an average purchase price of DKK 550.59. The total spending for these transactions amounts to approximately DKK 117,268,585.
Transaction Details
To provide clarity, here are the specifics of 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 from August 26 to August 30, 2024, Schouw & Co. acquired a total of 8,300 shares at an average price of DKK 580.92, resulting in total expenditures of DKK 4,821,668.
Current Holdings and Future Outlook
As a result of these ongoing transactions, Schouw & Co. now holds 1,823,913 treasury shares, which accounts for 7.30% of its total share capital of 25,000,000 shares. This strategic decision demonstrates Schouw & Co.'s dedication to enhancing shareholder value and refining its capital structure.
Contact Information
If you have any questions regarding the share buy-back programme or other corporate matters, please 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 is designed to enhance shareholder value by repurchasing shares from the market, which can potentially increase earnings per share and overall returns for shareholders.
How much is Schouw & Co. planning to spend on the buy-back?
Schouw & Co. intends to allocate up to DKK 200 million for the share buy-back programme by the end of 2024.
Which regulations govern the share buy-back?
The programme is governed by Regulation (EU) No. 596/2014, which addresses market abuse, as well as the Commission’s delegated regulation (EU) 2016/1052, which sets 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 as part of the buy-back programme.
Who can I contact for more information about Schouw & Co.?
For further inquiries, please contact Jørgen Dencker Wisborg, Chairman, or Jens Bjerg Sørensen, President, at +45 86 11 22 22.
