COPENHAGEN - Sydbank A/S has announced the completion of its latest transactions under the stock buyback program initially launched on March 4, 2024. As part of the initiative aimed at reducing the company's share capital, the Danish bank has acquired a total of 79,000 shares in the week of December 16-20, 2024, at an average purchase price ranging from 355.94 to 382.44 Danish kroner per share.
The transactions carried out through the week resulted in a cumulative expenditure of 29.072 million kroner, bringing the total buyback expenditure to 1.111 billion kroner since the program's commencement. The bank's latest buyback leaves it holding 3,148,283 of its own shares, which corresponds to 5.76% of its total share capital.
The buyback program, which is set to conclude by January 31, 2025, has been conducted in accordance with the "Safe Harbour" regulations stipulated by 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.
All transactions have been executed on the ISIN DK 0010311471 and facilitated by Danske Bank (CSE:DANSKE) A/S on behalf of Sydbank A/S. The bank has provided additional details regarding the transactions in compliance with Article 5 of the European Parliament and Council Regulation on market abuse.
The information presented in this article is based on a press release statement from Sydbank A/S, which provides an update on the bank's stock buyback activities in accordance with regulatory requirements. The bank's own shares acquisition is part of a larger strategy to adjust its share capital structure.
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