AABENRAA, Denmark - Sydbank A/S has executed a series of transactions under its share buyback program in the 47th week of the year, as part of a plan to reduce its share capital. The program, which was announced on February 28, 2024, began on March 4, 2024, and is scheduled to conclude by January 31, 2025.
During the week, the bank purchased 73,000 shares at an average price of 355.17 Danish kroner per share, amounting to a total transaction value of 25.9 million kroner. This brings the accumulated total under the buyback program to 2.871 million shares, with a total value of 1.010 billion kroner.
The transactions were carried out by Danske Bank (CSE:DANSKE) A/S on behalf of Sydbank and involved shares traded on the ISIN DK 0010311471. Following the latest transactions, Sydbank now holds a total of 2,872,080 of its own shares, corresponding to 5.26% of the bank's share capital.
The share buyback is being conducted in accordance with the Safe Harbour rules established by the European Parliament and Council Regulation (EU) No 596/2014 of April 16, 2014, and the EU Commission's Delegated Regulation (EU) 2016/1052 of March 8, 2016.
This action is part of Sydbank's strategy to adjust its capital structure and return value to its shareholders. The bank has been transparent in its operations, providing detailed information on the individual transactions, as required by regulatory standards.
The details of these transactions are based on a press release statement issued by Sydbank A/S.
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