Netcompany - Launch of share buyback programmeSource: OMX
5 May 2022
Launch of share buyback programme
Today, Netcompany Group A/S (“Netcompany”) announces that the Board of Directors has decided to initiate a share buyback programme of up to DKK 50m for the purpose of meeting Netcompany’s 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 22 May 2018. The authorisation is valid until 21 May 2023 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 30 June 2022.
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 50m;
- The maximum number of shares to be bought back will be 200,000;
- 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 726,002 treasury shares corresponding to 1.45 % of the total share capital.
For additional information, please contact
| Netcompany Group A/S |
Thomas Johansen, CFO
Tine Kosmider Boye, General Counsel
+45 51 19 32 24
+45 24 91 75 33