Netcompany - Launch of share buyback programme
January 25 2024 - 1:31AM
Netcompany - Launch of share buyback programme
Company AnnouncementNo. 02/202425 January 2024
Today, Netcompany Group A/S (“Netcompany”) announces that the
Board of Directors has decided to initiate a share buyback
programme of up to DKK 150m for the purpose of initiating
Netcompany’s mid-term targets 2026 and meeting the future
commitments under its LTIP programmes (RSU).
The share buyback programme is launched with reference to the
authorisation to acquire treasury shares granted by the general
meeting on 2 March 2023. The authorisation is valid until 2 March
2028 and allows Netcompany to acquire shares with a total nominal
value of up to 10% of its share capital. The share buyback
programme will end no later than 1 May 2024.
The share buyback programme will be executed in accordance with
EU Market Abuse Regulation, EU Regulation no. 596/2014 of 16 April
2014 and the provisions of Commission Delegated Regulation (EU)
2016/1052 of 8 March 2016 (the “Safe Harbour Regulation”).
Netcompany has appointed Danske Bank A/S as lead manager of the
share buyback programme. Under a separate agreement, Danske Bank
A/S will buy back shares on behalf of Netcompany and make related
trading decisions independently of and without influence by
Netcompany.
The share buyback programme will be implemented under the
following terms:
The maximum total consideration for shares bought back will be
DKK 150m;The maximum number of shares to be bought back will be
1,300,000;The maximum number of shares that may be purchased per
daily market session may not exceed 25% of the average daily volume
of Netcompany’s shares traded on Nasdaq Copenhagen during the
preceding 20 trading days; andShares cannot be bought back at a
price exceeding the higher of (i) the share price of the last
independent transaction on Nasdaq Copenhagen A/S, and (ii) the
highest independent bid on the shares on Nasdaq Copenhagen
A/S.
On a weekly basis, Netcompany will announce transactions made
under the share buyback programme in accordance with the reporting
obligations imposed by the Safe Harbour Regulation.
Netcompany may terminate the programme at any time, which will
be announced through Nasdaq Copenhagen A/S, if relevant.
As of today, Netcompany holds 429,144 treasury shares
corresponding to 0.9% of the total share capital.
Additional information
For additional information, please contact:
Thomas Johansen, CFO+45 51 19 32 24
Frederikke Linde, Head of Investor Relations+45 60 62 60
87
- 02. Netcompany - Launch of share buyback programme
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