DSV, 901 - LAUNCH OF NEW SHARE BUYBACK PROGRAMME ACCORDING TO THE SAFE HARBOUR METHOD
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Company Announcement No. 901
The Board of Directors of DSV Panalpina A/S has decided to exercise the authority to buy back shares granted by the Annual General Meeting on 15 March 2021. The authority is valid until 15 March 2026 and covers a maximum of 22,400,000 shares.
The purpose of the share buyback is to adjust the capital structure and meet obligations relating to the Group’s share-based incentive programmes. At the Annual General Meeting of DSV Panalpina A/S, a resolution will be proposed that any shares not used for hedging or the incentive programmes will be cancelled.
The share buyback programme will run from 29 July 2021 to 25 October 2021 at the latest, both days inclusive. During this period, DSV Panalpina A/S will buy its own shares up to maximum of DKK 4,000 million in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and Commission Delegated Regulation (EU) 2016/1052, also referred to as the Safe Harbour rules.
• DSV Panalpina A/S is required to retain a lead manager who is to make its own trading decisions independently of and without influence from DSV Panalpina A/S and execute the buyback within the announced limits. DSV Panalpina A/S has designated Danske Bank A/S, as its lead manager for the share buyback.
• Under the share buyback programme, DSV Panalpina A/S may repurchase shares up to a maximum aggregate purchase price of DKK 4,000 million, and no more than 4,000,000 shares, corresponding to 1.79% of the current share capital of DSV Panalpina A/S, may be purchased.
• The shares may in no event be bought at a price deviating by more than 5 per cent from the most recently quoted market price of the shares at the time of purchase.
• The maximum number of DSV Panalpina A/S shares that may be purchased on each business day may not exceed 25% of the average daily trading volume of DSV Panalpina A/S shares on Nasdaq Copenhagen during the last 20 trading preceding trading days before the trading day.
A company announcement of any transactions under the programme will be published every Monday, starting with 9 August 2021, throughout the duration of the programme.
Any questions may be addressed to Executive Vice President, Investor Relations, Flemming Ole Nielsen, tel. +45 43 20 33 92.
DSV Panalpina A/S
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