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AABENRAA, Denmark - Sydbank A/S, a prominent Danish bank, has continued its share buyback program with a series of transactions in week 49, as part of its ongoing efforts to reduce its share capital. The buyback program, which was announced on February 28, 2024, involves the repurchase of shares worth DKK 1,200 million and is expected to conclude by January 31, 2025.
In the latest week, from Monday through Friday, Sydbank acquired a total of 64,000 shares at an average price ranging from DKK 350.61 to DKK 360.25 per share, amounting to a gross value of DKK 22,857,280. The transactions were conducted in accordance with the Safe Harbour rules established by the European Union regulations to ensure compliance with market abuse legislation.
Since the commencement of the buyback program on March 4, 2024, Sydbank has accumulated a total of 3,006,000 shares, representing a gross investment of DKK 1,058,509,440. As a result of these transactions, Sydbank now holds 3,006,283 of its own shares, corresponding to 5.50% of the bank’s total share capital.
The shares were purchased through Danske Bank (CSE:DANSKE) A/S, which acted on behalf of Sydbank, under the ISIN code DK 0010311471. Detailed information about the individual transactions is available as per the regulatory requirements outlined in Article 5 of the EU Market Abuse Regulation and the associated delegated regulation.
This share buyback initiative is part of Sydbank’s capital reduction strategy, reflecting the bank's commitment to optimizing shareholder value. The program is executed within the constraints of the EU's regulatory framework to ensure transparency and fairness in the market.
The information provided is based on a press release statement from Sydbank A/S.
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