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COPENHAGEN - Ringkjøbing Landbobank announced the launch of a share buyback program starting today, with the bank set to repurchase up to 1,600,000 shares, totaling DKK 1,000 million (approximately $143 million). This initiative follows the bank’s April 30 announcement and is in line with the authorization granted by shareholders at the annual general meeting on March 5, 2025.
The buyback, aimed at adjusting the bank’s capital structure, will run until January 30, 2026. During this period, the bank will acquire its own shares within the constraints of the Safe Harbour rules, established by EU Regulation No 596/2014 and Commission Delegated Regulation (EU) No 2016/1052.
Danske Bank (CSE:DANSKE) has been appointed as the lead manager to execute the buybacks independently of Ringkjøbing Landbobank, ensuring all trades are made within set limits and without influence from the bank itself. The purchasing price per share will not exceed the higher of the latest independent transaction or the highest independent buyer’s bid on Nasdaq Copenhagen.
The bank has committed to not buying more than 25% of the average daily volume of shares traded on Nasdaq Copenhagen over the last 20 trading days in a single day. Transparency will be maintained through weekly updates to Nasdaq Copenhagen, detailing the number and value of shares purchased.
This strategic move by Ringkjøbing Landbobank is part of a broader effort to optimize its capital distribution, allowing for potential cancellation of the acquired shares at a future general meeting. The bank reserves the right to suspend or stop the buyback at any time, with a corporate announcement to follow if such action is taken.
The information in this article is based on a press release statement from Ringkjøbing Landbobank.
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