Netcompany - Launch of share buyback programme
August 14 2024 - 1:32AM
UK Regulatory
Netcompany - Launch of share buyback programme
Company announcement
No. 36/2024
14 August 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
adjusting Netcompany’s capital structure and meeting its
obligations relating to share-based incentive programmes. 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 29 October 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 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
1,000,000;
- 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; and
- Shares 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 1,733,378 treasury
shares corresponding to 3.5% of the total share capital.
Additional information
For additional information, please contact:
Netcompany Group A/S
Thomas Johansen, CFO, + 45 51 19 32 24
Frederikke Linde, Head of IR, +45 60 62 60 87
- 36. Netcompany - Launch of share buyback programme
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