AABENRAA, Denmark - Sydbank A/S has announced the latest transactions under its share buyback program, which began on March 4, 2024, and is set to conclude by January 31, 2025. The program, aimed at reducing the bank's share capital, is being conducted in accordance with the Safe Harbour rules of the European Union.
During the first week of the year, the bank acquired 30,000 shares at an average purchase price of DKK 379.12, amounting to a total transaction value of DKK 11.4 million. With these recent transactions, Sydbank has accumulated a total of 3,208,000 shares under the buyback program, representing an investment of DKK 1.13 billion.
The buyback initiative was first publicized on February 28, 2024, with a total allocation of DKK 1.2 billion. All transactions have been executed through Danske Bank (CSE:DANSKE) A/S on behalf of Sydbank A/S and involve shares identified by ISIN DK 0010311471.
Following the latest transactions, Sydbank now owns a total of 3,208,531 of its own shares, which corresponds to 5.87% of the bank's share capital.
The share buyback program is part of the bank's capital reduction strategy, executed under the regulations established by the European Parliament and Council's Regulation (EU) No 596/2014 and the EU Commission's Delegated Regulation (EU) 2016/1052, collectively known as the Safe Harbour rules.
This information is based on a press release statement and is intended to provide shareholders and the investment community with transparent updates on the bank's capital management activities.
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