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Pin to quick picksSydbank Ord Regulatory News (0MGE)

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Share buyback

28 Feb 2024 07:22

Share buyback

Company Announcement No 03/2024Peberlyk 46200 Aabenraa, DenmarkTel +45 74 37 37 37Fax +45 74 37 35 36Sydbank A/SCVR No DK 12626509, Aabenraasydbank.dk
28 February 2024 

Dear Sirs

Share buyback

The Board of Directors has decided to implement a share buyback programme of DKK 1,200 million, however not exceeding 8 million shares. The purpose of the share buyback is to reduce the Bank’s share capital with the shares purchased under the programme.

At the general meeting of Sydbank A/S held on 23 March 2023 the Board of Directors was most recently authorised to allow the Bank to acquire own shares at a total value of up to 10% of the Bank’s share capital.

The price paid for shares may not differ by more than 10% from the price quoted on Nasdaq Copenhagen A/S at the time of purchase.

The share buyback is part of the adjustment to optimise the capital structure in accordance with the Bank’s capital targets and capital policy. At 31 December 2023 Sydbank’s CET1 ratio stood at 18.9% and its capital ratio stood at 21.1%.

The share buyback programme will be initiated on Monday 4 March 2024 and will be completed by 31 January 2025.

Sydbank has chosen Danske Bank A/S to manage the share buyback programme which will be executed in compliance with Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 and Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016, referred to as the Safe Harbour rules.

The share buyback programme will be subject to the following guidelines:

Shares may not be purchased at a price higher than the higher of the following prices:

I. the price of the last independent tradeII. the highest current independent purchase bid on the trading venue where the purchase is carried out, including when the shares are traded on different trading venues.

Purchases on any trading day must not exceed 25% of the average daily volume of the shares in the preceding 20 trading days on the trading venue on which the purchase is carried out.

On the first banking day of each week Sydbank will state the number and value of repurchased shares in a company announcement.

Sydbank may suspend or end the share buyback programme at any time. In such case this will be announced in a company announcement.

---ooo0ooo---

On 22 December 2023 Sydbank’s share buyback programme of DKK 600m was completed. The share buyback programme was initiated on 6 July 2023 and Sydbank purchased 1,911,900 shares within the programme. At 26 February 2024 Sydbank owned a total of 1,920,112 own shares, equal to approx 3.4% of the Bank’s share capital. The Board of Directors recommends to the AGM to be held on 21 March 2024 that the Bank’s share capital be reduced by DKK 19,119,000 to DKK 545,884,200.

Yours sincerely

Karen Frøsig Jørn Adam MøllerCEO Deputy Group Chief Executive

Attachment

SM 03 UK
Date   Source Headline
1st Jul 20164:59 pmEQSDGAP-Regulatory: Sydbank share buyback programme: Transactions in week 26
27th Jun 20168:11 amEQSDGAP-Regulatory: Sydbank share buyback programme: Transactions in week 25
20th Jun 20167:57 amEQSDGAP-Regulatory: Sydbank share buyback programme: transactions in week 24
13th Jun 20168:14 amEQSDGAP-Regulatory: Sydbank share buyback programme: Transactions in week 23
6th Jun 20168:14 amEQSDGAP-Regulatory: Sydbank share buyback programme: transactions in week 22
30th May 20167:55 amEQSDGAP-Regulatory: Sydbank share buyback programme: transactions in week 21
25th May 20169:47 amEQSDGAP-Regulatory: Sydbank's Articles of Association, 17 March 2016
25th May 20169:14 amEQSDGAP-Regulatory: Change in share capital and number of voting rights in Sydbank A/S
23rd May 20168:05 amEQSDGAP-Regulatory: Sydbank share buyback programme: transactions in week 20
17th May 20168:15 amEQSDGAP-Regulatory: Sydbank share buyback programme: transactions in week 19
9th May 20168:55 amEQSDGAP-Regulatory: Sydbank share buyback programme: transactions in week 18
2nd May 20169:02 amEQSDGAP-Regulatory: Sydbank share buyback programme: transactions in week 17
27th Apr 20168:26 amEQSDGAP-Regulatory: Sydbank's Interim Report - Q1 2016
25th Apr 20169:13 amEQSDGAP-Regulatory: Sydbank share buyback programme: transactions in week 16
18th Apr 20168:53 amEQSDGAP-Regulatory: Sydbank share buyback programme: transactions in week 15
11th Apr 20168:51 amEQSDGAP-Regulatory: Sydbank share buyback programme: transactions in week 14
4th Apr 20169:03 amEQSDGAP-Regulatory: Sydbank share buyback programme: transactions in week 13
29th Mar 20168:51 amEQSDGAP-Regulatory: Sydbank share buyback programme: transactions in week 12
21st Mar 20168:10 amEQSDGAP-Regulatory: Sydbank share buyback progrsamme: Transactions in week 11
17th Mar 20164:35 pmEQSDGAP-Regulatory: Sydbank's Board of Directors
17th Mar 20164:05 pmEQSDGAP-Regulatory: Annual General Meeting of Sydbank A/S
14th Mar 20167:58 amEQSDGAP-Regulatory: Sydbank share buyback programme: transactions in week 10
7th Mar 20167:58 amEQSDGAP-Regulatory: Sydbank share buyback programme: transactions in week 09
24th Feb 20167:27 amEQSDGAP-Regulatory: Sydbank to buy back shares
24th Feb 20167:27 amEQSDGAP-Regulatory: Sydbank's 2015 Annual Report
17th Feb 20168:00 amEQSDGAP-Regulatory: Notice convening the Annual General Meeting of Sydbank A/S
18th Dec 20159:14 amEQSDGAP-Regulatory: Erik Bank Lauridsen to resign from Sydbank's Board of Directors
16th Dec 20153:13 pmEQSDGAP-Regulatory: 2016 Financial Calendar
24th Nov 20155:31 pmEQSDGAP-Regulatory: EBA data collection
4th Nov 20158:14 amEQSDGAP-Regulatory: Termination of share buy-back programme at Sydbank and transactions in week 45
2nd Nov 20158:02 amEQSDGAP-Regulatory: Sydbank share buy-back programme: transactions in week 44
27th Oct 20159:52 amEQSDGAP-Regulatory: Sydbank's Interim Report - Q1-Q3 2015
26th Oct 20157:56 amEQSDGAP-Regulatory: Sydbank share buy-back programme: transactions in week 43
19th Oct 20159:02 amEQSDGAP-Regulatory: Sydbank share buy-back programme: transactions in week 42
12th Oct 20158:46 amEQSDGAP-Regulatory: Sydbank share buy-back programme: transactions in week 41
5th Oct 20159:19 amEQSDGAP-Regulatory: Sydbank share buy-back programme: transactions in week 40
28th Sep 20158:58 amEQSDGAP-Regulatory: Sydbank share buy-back programme: transactions in week 39
21st Sep 20159:09 amEQSDGAP-Regulatory: Sydbank share buy-back programme: transactions in week 38
14th Sep 20159:01 amEQSDGAP-Regulatory: Sydbank share buy-back programme: transactions in week 37
7th Sep 20158:34 amEQSDGAP-Regulatory: Sydbank share buy-back programme: transactions in week 36
31st Aug 20158:53 amEQSDGAP-Regulatory: Sydbank share buy-back programme: transactions in week 35
24th Aug 20159:01 amEQSDGAP-Regulatory: Sydbank share buy-back programme: transactions in week 34
19th Aug 20158:29 amEQSDGAP-Regulatory: Sydbank's Interim Report - First Half 2015
17th Aug 20159:04 amEQSDGAP-Regulatory: Sydbank share buy-back programme: transactions in week 33
10th Aug 20158:59 amEQSDGAP-Regulatory: Sydbank share buy-back programme: transactions in week 32
10th Aug 20158:57 amEQSDGAP-Regulatory: Sydbank share buy-back programme: transactions in week 32
10th Aug 20158:56 amEQSDGAP-Regulatory: Sydbank share buy-back programme: transactions in week 32
10th Aug 20158:55 amEQSDGAP-Regulatory: Sydbank share buy-back programme: transactions in week 32
3rd Aug 20159:08 amEQSDGAP-Regulatory: Sydbank share buy-back programme: transactions in week 31
27th Jul 20158:55 amEQSDGAP-Regulatory: Sydbank share buy-back programme: transactions in week 30

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