Schouw & Co. to initiate share buy-back programme of up to DKK 75 million
The Board of Directors of Aktieselskabet Schouw & Co. has decided to initiate a share buy-back programme of up to DKK 75 million to be executed during the period 15 November 2023 to 1 March 2024.
The share buy-back programme is initiated pursuant to the authorisation granted to the Board of Directors by the annual general meeting on 15 April 2020, which authorises the company to acquire treasury shares at a nominal value of 20% in total of the company’s share capital. Prior to the share buy-back, Schouw & Co. holds 1,974,176 treasury shares, equal to 7.74% of the share capital. Pursuant to the current authorisation, a maximum number of 3,125,824 treasury shares may be acquired, equal to 12.26% of the share capital.
The buy-back will be structured in accordance with Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (MAR) and the Commission’s delegated regulation (EU) 2016/1052 of 8 March 2016 (“Safe Harbour” rules).
Purpose
The purpose of the share buy-back programme is to reduce the company’s share capital.
Terms
Schouw & Co. has appointed Danske Bank as lead manager for the share buy-back programme. Subject to the said structure, Danske Bank will make its own trading decisions independently of and without influence or involvement from Schouw & Co.
Under the share buy-back programme Schouw & Co. may buy treasury shares of up to a maximum amount of DKK 75 million. Schouw & Co. is entitled at any time to suspend or end the programme, provided such is disclosed in a company announcement.
On a weekly basis, Schouw & Co. will issue an announcement regarding transactions made under the programme.
Aktieselskabet Schouw & Co.
Jørgen Dencker Wisborg, Chairman
Jens Bjerg Sørensen, President, telephone number +45 86 11 22 22
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