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COPENHAGEN - Ringkjøbing Landbobank has been actively purchasing shares as part of its ongoing share buyback program, which is set to run until May 28, 2025. In the latest week of transactions, the bank acquired additional shares, contributing to the total number bought back under the program thus far.
The bank’s share buyback initiative, announced on January 28, 2025, allows for the repurchase of up to 800,000 shares, equating to a maximum expenditure of DKK 500 million. This move is in alignment with the EU’s "Safe Harbour" regulations, ensuring compliance with market abuse rules.
During the past week, Ringkjøbing Landbobank executed several transactions, purchasing shares at varying average prices, which were detailed in the press release. These recent acquisitions have brought the total number of shares bought back under the program to 330,100, with an average price of DKK 1,176.49 per share. The total amount spent on the buyback has reached DKK 388,358,993.
As a result of these buybacks, the bank now holds 1,645,142 of its own shares, representing 6.16% of its share capital. This excludes shares held in the bank’s trading portfolio and those acquired on behalf of customers.
The detailed list of transactions made under the share buyback program includes specifics such as volume, price, and venue, providing transparency about the bank’s actions in the stock market.
This strategic move by Ringkjøbing Landbobank reflects a common practice among companies to return value to shareholders and potentially support their stock price. The share buyback program is part of the bank’s capital allocation strategy and is being conducted under the regulatory framework that governs such financial activities.
The information in this article is based on a press release statement from Ringkjøbing Landbobank.
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