Alm. Brand A/S Completes Share Buy-Back Program, Acquiring 1.43% of Outstanding Shares

Alm. Brand A/S completes share buy-back program, acquiring 21,999,221 own shares between May 6-8, 2024, representing 1.43% of total outstanding shares. The program was conducted in accordance with EU regulations, with a total value of DKK 295,496,032.

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Alm. Brand A/S Completes Share Buy-Back Program, Acquiring 1.43% of Outstanding Shares

Alm. Brand A/S Completes Share Buy-Back Program, Acquiring 1.43% of Outstanding Shares

Danish insurance company Alm. Brand A/S has completed its share buy-back program, acquiring a total of 21,999,221 own shares between May 6-8, 2024. The repurchased shares represent 1.43% of the company's total outstanding shares.

Why this matters: This move demonstrates Alm. Brand A/S's commitment to managing its capital structure and returning value to shareholders, which can have a positive impact on investor confidence and the overall stock market. The completion of the share buy-back program may also set a precedent for other companies in the industry to follow suit, potentially influencing the broaderfinancial landscape.

The share buy-back program was initially announced on December 5, 2023, with an amount of DKK 250 million. On February 8, 2024, the program was increased by DKK 100 million to a total of DKK 350 million and extended until September 30, 2024. The program was conducted in accordance with the Regulation No 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052, also known as the Safe Harbour Regulations.

During the 19th week of the program, Alm. Brand A/S made the following transactions: On May 6, 300,000 shares were bought at an average purchase price of DKK 13.11, totaling DKK 3,933,990. On May 7, 294,800 shares were acquired at an average price of DKK 13.28, amounting to DKK 3,915,239. The final transaction took place on May 8, with 300,000 shares purchased at an average price of DKK 13.20, totaling DKK 3,959,880.

Prior to the last announcement, Alm. Brand A/S had already acquired 22,682,774 shares under the buy-back program. With the latest transactions, the company has now repurchased a total of 23,577,574 shares at an average purchase price of DKK 12.53, amounting to a total value of DKK 295,496,032.

For any questions regarding this announcement, Alm. Brand A/S has directed inquiries to Mads Thinggaard, Head of IR, Rating and ESG reporting, who can be reached at mobile number +45 2025 5469. The completion of the share buy-back program demonstrates Alm. Brand A/S's commitment to managing its capital structure and returning value to shareholders.

Key Takeaways

  • Alm. Brand A/S completes share buy-back program, acquiring 21,999,221 own shares.
  • The repurchased shares represent 1.43% of the company's total outstanding shares.
  • The program demonstrates the company's commitment to managing its capital structure.
  • The total value of the repurchased shares is DKK 295,496,032.
  • The program was conducted in accordance with EU's MAR and Safe Harbour Regulations.