London Stock Exchange
20 March 2019
Implementation of share buy-back programme
The annual general meeting held today, 20 March 2019, authorised the bank.s board of directors to buy shares for up to DKK 190 million, for cancellation at a future general meeting.
After the general meeting, the bank.s board of directors has decided to exercise the authorisation to buy the bank.s own shares by an implementing of a part of the share buy-back programme. The implementation of the share buy-back programme thus covers the bank.s own shares to a maximum value of DKK 90 million in accordance with the above authorisation granted by the general meeting.
The share buy-back programme runs from 21 March 2019 up to and including 31 July 2019. During this period the bank will buy its own shares for up to DKK 90 million under the programme, but to a maximum of 568,421 shares.
The programme will be implemented in compliance with EU Commission Regulation 596/2014 of 16 April 2014 and EU Commission Delegated Regulation 2016/1052 of 8 March 2016, which together constitute the Safe Harbour regulation.
The bank may suspend or stop the buy-back of shares at any time, in which event a corporate announcement will be issued.
The conditions for the share buy-back programme are as follows:
- The purpose of the share buy-back is to adjust the bank.s capital structure in accordance with the authorisation adopted at the bank.s annual general meeting held today, 20 March 2019.
- Ringkjøbing Landbobank has entered into a contract with Danske Bank under which Danske Bank will act as lead manager of the programme. Danske Bank will make all trading decisions independently and without influence from Ringkjøbing Landbobank and will purchase shares within the published limits.
- The maximum amount that Ringkjøbing Landbobank may pay for shares purchased under the programme is DKK 90 million, while a maximum limit of 568,421 shares may be acquired.
- Shares may not be purchased at a price exceeding the higher of (i) the price of the latest independent transaction; and (ii) the highest bid from an independent buyer on Nasdaq Copenhagen at the time of the transaction.
- The total number of shares that may be purchased on a single trading day may not exceed 25% of the average daily trading volume over the preceding 20 trading days on Nasdaq Copenhagen.
- Ringkjøbing Landbobank will announce the number of purchased shares, as well as their value, on a weekly basis in a separate announcement to Nasdaq Copenhagen, both in an aggregated and a detailed form.
Nyheten er levert av GlobeNewswire.