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AABENRAA, DENMARK - Sydbank A/S has announced a continuation of its share buyback program, with transactions executed in the third week of the initiative. The program, which commenced on March 4, 2024, aims to reduce the bank's share capital and is set to conclude by January 31, 2025.
During the third week, Sydbank acquired a total of 60,000 shares at an average purchase price of DKK 377.03, amounting to a transactional value of DKK 22.621 million. This brings the aggregate number of shares bought back since the last announcement to 3,348,000, with a total value of DKK 1.186 billion.
The transactions were conducted under the EU's Safe Harbour regulations, ensuring compliance with market abuse regulations. The buybacks were facilitated by Danske Bank (CSE:DANSKE) A/S on behalf of Sydbank, involving shares listed under ISIN DK 0010311471.
Following the recent transactions, Sydbank now holds a total of 3,350,124 treasury shares, corresponding to 6.13% of the bank's share capital.
The share buyback program is part of Sydbank's capital reduction strategy, and the bank has been transparent in its reporting of the weekly transactions. The details of the buyback transactions are available in the attached annex to the press release statement.
Investors and stakeholders can monitor the progress of the buyback program as Sydbank continues to provide regular updates in accordance with regulatory requirements. The bank's commitment to the program reflects its ongoing efforts to optimize its capital structure for the benefit of its shareholders.
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