COPENHAGEN - Ringkjøbing Landbobank has reported the completion of the second week of its current share buyback program, which is part of the larger buyback plan running from February 1, 2024, to January 27, 2025. The second phase of the program, aimed at repurchasing shares for DKK 775 million, commenced on June 28, 2024, and will continue until the end date of the overall program.
During the second week, the bank purchased shares at an average price of DKK 1,130.29, accumulating a total expenditure of DKK 721,356,330 for this phase. With these recent transactions, Ringkjøbing Landbobank now holds 1,270,107 shares under the buyback program, representing 4.8% of the bank’s share capital.
The buyback plan is being executed in accordance with the EU Commission Regulation No. 596/2014 and the EU Commission Delegated Regulation No. 2016/1052, known as the "Safe Harbour" rules, which ensure that the buyback is conducted legally and transparently.
The detailed transactions made under the share buyback program have been disclosed by the bank, providing full transparency regarding the specific number of shares purchased and the prices paid on each day of the week.
This strategic move by Ringkjøbing Landbobank underlines the bank's commitment to returning value to its shareholders and managing its capital structure efficiently. The information provided is based on a press release statement from the bank.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.