Schouw & Co. to initiate share buy-back programme of up to DKK 200 million
The Board of Directors of Aktieselskabet Schouw & Co. has decided to initiate a share buy-back programme of up to DKK 200 million to be executed during the period 4 March to 31 December 2024. The programme thus replaces the latest share buy-back programme, which expires on 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. At the close of 29 February, Schouw & Co. holds 2,109,976 treasury shares, equal to 8.27% of the share capital. Pursuant to the current authorisation, a maximum number of 2,990,024 treasury shares may be acquired, equal to 11.73% 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 200 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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