Spar Nord Bank's Share Buyback Program Overview
Spar Nord Bank has recently rolled out a significant share buyback initiative, underscoring its dedication to boosting shareholder value. The program has a budget of up to DKK 500 million and kicked off on an important date.
Objective and Framework of the Share Buyback
The main aim of this buyback program is to lower the bank's share capital by repurchasing shares. This move aligns with Regulation (EU) No 596/2014, established on 16 April 2014, which is commonly referred to as the Market Abuse Regulation, and regulates share repurchase practices.
Week 38 Transactions
In the last week, Spar Nord Bank carried out several transactions under this buyback program, demonstrating a calculated approach to managing its shares. Here’s a closer look at the week’s transactions:
Summary of Transactions
The bank bought back shares throughout the week, with the following key information:
Accumulated since the last announcement: 2,317,797 shares, amounting to a transaction value of DKK 290,270,700.
Transactions completed during the week included:
- 16 September: 14,800 shares bought at DKK 128.54, totaling DKK 1,902,392.
- 17 September: 14,800 shares bought at DKK 128.74, totaling DKK 1,905,352.
- 18 September: 14,800 shares bought at DKK 128.86, totaling DKK 1,907,128.
- 19 September: 14,400 shares bought at DKK 129.79, totaling DKK 1,868,976.
- 20 September: 14,700 shares bought at DKK 129.11, totaling DKK 1,897,917.
Overall Buybacks and Their Significance
For the week 38, Spar Nord Bank announced a total of 73,500 shares repurchased, with a total transaction value of DKK 9,481,765. After these buybacks, Spar Nord now holds 2,448,816 treasury shares, making up 2.08% of the bank's total share capital. This strategic action not only highlights Spar Nord's strong financial standing but also reflects its dedication to enhancing returns for shareholders.
Looking Ahead: Spar Nord’s Future
As Spar Nord advances with its buyback program, it remains committed to navigating the ever-changing financial environment. This strategy goes beyond just reducing share capital; it’s part of a broader plan to build investor confidence and strengthen its presence in the market. By engaging in share buybacks, Spar Nord is asserting itself as a proactive institution focused on delivering real value to its shareholders.
Contact Information
If you have further questions regarding this announcement, please reach out to Rune Brandt Børglum, the Head of Investor Relations. Rune can be contacted directly at +45 96 34 42 36.
Frequently Asked Questions
What is the purpose of Spar Nord's share buyback program?
The main goal of the share buyback program is to lower the bank's share capital and enhance shareholder value.
How many shares did Spar Nord buy back in week 38?
Spar Nord bought back a total of 73,500 shares in week 38.
What is the current total of treasury shares held by Spar Nord?
Following the recent transactions, Spar Nord possesses 2,448,816 treasury shares.
Who can I contact for more details about the buyback program?
For any inquiries, you can contact Rune Brandt Børglum, the Head of Investor Relations, at +45 96 34 42 36.
Are there regulations governing this buyback program?
Yes, the buyback is conducted in compliance with Regulation (EU) No 596/2014, known as the Market Abuse Regulation.
