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Pin to quick picksSydbank Ord Regulatory News (0MGE)

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Share buyback

6 Jul 2023 14:45

Share buyback

Company Announcement No 13/2023Peberlyk 46200 Aabenraa, DenmarkTel +45 74 37 37 37Fax +45 74 37 35 36Sydbank A/SCVR No DK 12626509, Aabenraasydbank.dk
6 July 2023 

Dear Sirs

Share buyback

The Board of Directors has decided to implement a share buyback programme of DKK 600 million, however not exceeding 4 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 AGM of Sydbank A/S held on 23 March 2023 the Board of Directors was 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 March 2023 Sydbank’s CET1 ratio stood at 18.2% and its capital ratio stood at 20.5%.

The share buyback programme will be initiated on Monday 10 July 2023 and will be completed by 31 January 2024.

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.

Yours sincerely

Karen Frøsig Jørn Adam MøllerCEO Deputy Group Chief Executive

Attachment

SM 13 UK
Date   Source Headline
30th May 20229:24 amGNWSydbank share buyback programme: transactions in week 21
23rd May 20228:58 amGNWSydbank share buyback programme: transactions in week 20
16th May 20229:00 amGNWSydbank share buyback programme: transactions in week 19
9th May 20229:43 amGNWSydbank share buyback programme: transactions in week 18
6th May 202212:56 pmGNWChange of share capital
4th May 20227:26 amGNWSydbank’s Interim Report – Q1 2022
2nd May 20229:27 amGNWSydbank share buyback programme: transactions in week 17
25th Apr 20224:23 pmGNWSydbank A/S releases its profit for Q1 2022 and revises upwards its expectations for profit for the year for 2022
25th Apr 20228:27 amGNWSydbank share buyback programme: transactions in week 16
19th Apr 20228:53 amGNWSydbank share buyback programme: transactions in week 15
11th Apr 20229:07 amGNWSydbank share buyback programme: transactions in week 14
4th Apr 20229:10 amGNWSydbank share buyback programme: transactions in week 13
28th Mar 20228:39 amGNWSydbank share buyback programme: transactions in week 12
24th Mar 20224:47 pmGNWSydbank’s Board of Directors
24th Mar 20224:15 pmGNWAnnual General Meeting of Sydbank
21st Mar 20229:00 amGNWSydbank share buyback programme: transactions in week 11
14th Mar 20222:26 pmGNWSydbank share buyback programme: transactions in week 10
4th Mar 202210:03 amGNWStaff elected to Sydbank’s Board of Directors
2nd Mar 20227:26 amGNWSydbank’s 2021 Annual Report
2nd Mar 20227:25 amGNWShare buyback
23rd Feb 20228:00 amGNWNotice convening the Annual General Meeting
21st Feb 20222:13 pmGNWEarly redemption of T2 capital
8th Oct 20188:35 amGNWSydbank share buyback programme: transactions in week 40
3rd Oct 20183:12 pmGNWMajor shareholder announcement – Norges Bank
1st Oct 20188:24 amGNWSydbank share buyback programme: transactions in week 39
25th Sep 20189:08 amGNWMajor shareholder announcement – Norges Bank
24th Sep 20188:35 amGNWSydbank share buyback programme: transactions in week 38
21st Sep 201812:27 pmGNWMajor shareholder announcement - Norges Bank
18th Sep 20182:06 pmGNWMajor shareholder announcement – Silchester International Investors LLP
17th Sep 20189:20 amGNWSydbank share buyback programme: transactions in week 37
12th Sep 201812:06 pmGNWMajor shareholder announcement – Norges Bank
10th Sep 20188:31 amGNWSydbank share buyback programme: transactions in week 36
3rd Sep 20183:52 pmGNWMajor shareholder announcement – Norges Bank
3rd Sep 20188:35 amGNWSydbank share buyback programme: transactions in week 35
28th Aug 20187:26 amGNWSydbank’s Interim Report – First Half 2018
27th Aug 20188:24 amGNWSydbank share buyback programme: transactions in week 34
21st Aug 20188:14 amGNWMajor shareholder announcement – Sydbank A/S
20th Aug 20189:42 amGNWSydbank share buyback programme: transactions in week 33
13th Aug 20188:16 amGNWSydbank share buyback programme: transactions in week 32
6th Aug 20188:57 amGNWSydbank share buyback programme: transactions in week 31
30th Jul 20188:29 amGNWSydbank share buyback programme: transactions in week 30
23rd Jul 20188:48 amGNWSydbank share buyback programme: transactions in week 29
16th Jul 20188:47 amGNWSydbank share buyback programme: transactions in week 28
9th Jul 20189:04 amGNWSydbank share buyback programme: transactions in week 27
2nd Jul 20188:43 amGNWSydbank share buyback programme: transactions in week 26
25th Jun 20188:44 amGNWSydbank share buyback programme: transactions in week 25
18th Jun 20188:14 amGNWSydbank share buyback programme: transactions in week 24
11th Jun 20188:10 amGNWSydbank share buyback programme: transactions in week 23
4th Jun 20188:06 amGNWSydbank share buyback programme: transactions in week 22
30th May 201812:00 pmGNWIssue of Tier 1 capital and notice convening the Extraordinary General Meeting

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