AABENRAA, Denmark - Sydbank A/S, a Danish bank, has reported further transactions under its ongoing DKK 1.2 billion share buyback program, initially announced on February 28, 2024. The program, which began on March 4, 2024, is set to conclude by January 31, 2025. The primary aim of the buyback is to reduce Sydbank's share capital.
During the second week of the year, Sydbank purchased an additional 80,000 shares at variable weighted average prices, amounting to a total expenditure of DKK 29,909,200. These transactions bring the total number of shares acquired since the last announcement to 3,288,000, with an overall spend of DKK 1,163,636,600 under the program.
The bank has executed the buyback in accordance with the Safe Harbour rules, outlined by the Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 and Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016. This ensures compliance with market abuse regulations.
The transactions were carried out by Danske Bank (CSE:DANSKE) A/S on behalf of Sydbank and involved shares traded under ISIN DK 0010311471. As a result of the recent acquisitions, Sydbank now holds 3,288,283 of its own shares, corresponding to 6.02% of the bank's share capital.
The detailed information concerning the individual transactions made during the week is available as per the regulatory requirements. This update is based on a press release statement issued by Sydbank A/S.
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