Sydbank's Share Buyback Programme Overview for Week 35
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Sydbank's Share Buyback Programme: Transactions Overview
Sydbank recently completed transactions during week 35 as part of its ongoing share buyback programme. On February 28, 2024, the bank announced a significant initiative with a budget of DKK 1,200 million aimed at enhancing shareholder value by reducing its share capital. This buyback process commenced on March 4, 2024, and is anticipated to finalize on January 31, 2025.
The Purpose Behind the Share Buyback Programme
The primary goal of Sydbank's buyback programme is to effectively manage and reduce its share capital. This strategy not only supports the market perception of the company but also aims to improve the earnings per share for existing shareholders. The programme adheres to the stringent regulations set forth under European Union law, specifically Regulation (EU) No 596/2014 and the accompanying Commission Delegated Regulation (EU) 2016/1052, which are collectively known as the Safe Harbour rules.
Details of Transactions in Week 35
During week 35, Sydbank executed a series of transactions under this share buyback programme. These transactions were conducted through Danske Bank A/S, which acted on behalf of Sydbank. Here’s a quick recap of the most recent transactions completed:
As of the latest announcement, the accumulated number of shares repurchased stands at 1,795,000, with a gross value amounting to approximately DKK 648.85 million. The transactions during the week included:
Daily Transaction Summary
On the dates from August 26 to August 30, 2024, the bank engaged in the following buybacks:
- August 26: 20,000 shares at DKK 343.14 per share
- August 27: 18,000 shares at DKK 341.73 per share
- August 28: 22,000 shares at DKK 335.23 per share
- August 29: 18,000 shares at DKK 341.15 per share
- August 30: 18,000 shares at DKK 341.32 per share
The total shares acquired during this particular week amounted to 96,000 shares, contributing significantly to the gross value of DKK 32.67 million raised over the entire period.
Total Accumulated Transactions
To date, the share buyback programme has resulted in a cumulative total of 1,891,000 shares being repurchased. The gross value of these accumulated buybacks now totals approximately DKK 681.53 million. This reflects Sydbank’s commitment to intelligently managing its capital structure while enhancing shareholder returns.
Current Holdings and Future Outlook
After implementing the latest transactions in the buyback programme, Sydbank now owns a total of 1,895,980 of its shares, which equates to about 3.47% of its overall share capital. This strategic move not only signals the bank’s financial health but also demonstrates a robust approach to increasing shareholder value.
As the share buyback programme progresses, stakeholders can remain assured that Sydbank is proactively managing its share capital and driving profitability. Further information about the transactions can be provided in line with Article 5 of Regulation (EU) No 596/2014 concerning market abuse.
Conclusion
Overall, Sydbank’s share buyback programme is a tactical approach to capital management, demonstrating the bank's aim to bolster shareholder value effectively. This well-planned initiative underlines a forward-looking strategy, poised for continued success in the market.
Frequently Asked Questions
What is the purpose of Sydbank's share buyback programme?
The programme aims to reduce the company's share capital and enhance shareholder value through increased earnings per share.
How much was allocated to the share buyback programme?
Sydbank announced a budget of DKK 1,200 million for this share buyback initiative.
Who is conducting the share buybacks for Sydbank?
The buybacks are conducted by Danske Bank A/S on behalf of Sydbank.
How many shares have been repurchased to date?
As of the most recent updates, a total of 1,891,000 shares have been repurchased.
What percentage of Sydbank's share capital does this amount represent?
The repurchased shares constitute approximately 3.47% of Sydbank's total share capital.
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