AABENRAA - Danish lender Sydbank A/S has reported the completion of share buyback transactions for week 48 as part of its ongoing program aimed at reducing the company's share capital. The buyback initiative, announced on February 28, 2024, involves the repurchase of shares worth 1.2 billion Danish kroner and is expected to conclude by January 31, 2025.
During the specified week, Sydbank acquired a total of 71,000 shares at an average purchase price ranging from 347.27 to 352.15 Danish kroner per share, amounting to a transaction value of 24.865 million kroner. This recent activity brings the total number of shares repurchased under the program to 2.942 million, with an aggregate transaction value of 1.035 billion kroner.
The transactions were conducted on the ISIN DK 0010311471 and facilitated by Danske Bank (CSE:DANSKE) A/S on behalf of Sydbank. Following these transactions, Sydbank now holds 2.945 million of its own shares, representing 5.39% of the bank's share capital.
The share buyback program is carried out in accordance with the provisions of the European Parliament and Council Regulation (EU) No. 596/2014 of April 16, 2014, and the EU Commission's Delegated Regulation (EU) 2016/1052 of March 8, 2016, collectively known as the Safe Harbour rules.
The information provided is based on a press release statement from Sydbank, detailing the executed transactions and the bank's accumulated holdings of its own shares. The Danish bank continues to adhere to the established regulatory framework, ensuring transparency and compliance throughout the process of capital reduction.
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