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AABENRAA, Denmark - Danish lender Sydbank A/S has successfully completed its share buyback program, repurchasing a total of 3,383,960 shares for approximately DKK 1.2 billion. The program, which was initiated on February 28, 2024, and aimed to conclude by January 31, 2025, was finalized within the stipulated timeframe.
The share buyback was part of the bank’s strategy to reduce its share capital and was conducted in accordance with the EU Market Abuse Regulation and the Safe Harbour rules. During the final week of the program, which was week 04 of the year, Sydbank acquired 35,960 shares at varying volume-weighted average prices (VWAP), amounting to a gross value of DKK 13,741,111.60.
With these recent transactions, Sydbank now holds a total of 3,385,079 of its own shares, corresponding to 6.20% of the bank's total share capital. The trades were carried out under the ISIN DK 0010311471 by Danske Bank (CSE:DANSKE) A/S on behalf of Sydbank A/S.
The completion of this share buyback program represents a significant financial move by Sydbank, reflecting its ongoing capital management efforts. The bank has provided detailed information regarding the individual transactions made under the share buyback program, in line with regulatory requirements.
This announcement is based on a press release statement and aims to present the key facts of Sydbank's share buyback program without any promotional content or subjective assessment.
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