Termination of share buyback programme at Sydbank and transactions in week 51
Aabenraa, 2016-12-23 11:17 CET (GLOBE NEWSWIRE) --
On 24 February 2016 Sydbank announced a share buyback programme of DKK 350m. The share buyback commenced on 29 February 2016 and will be completed by 31 December 2016. The share buyback programme is executed in compliance with the provisions of the European Commission's Regulation No 2273/2003 of 22 December 2003, known as the Safe Harbour Regulation.
Following the transactions in week 51 Sydbank's share buy-back totals DKK 350m and consequently the share buyback programme is terminated today.
The purpose of the share buyback programme has been to reduce the share capital of the Bank and at the next AGM in 2017 the Board of Directors will recommend that the repurchased shares be cancelled.
The following transactions have been made under the share buyback programme:
| Number of shares | VWAP | Gross value (DKK) | |
| Accumulated, most recent announcement | 1,824,225 | 337,912,303.25 | |
| 19 December 2016 20 December 2016 21 December 2016 22 December 2016 23 December 2016 | 10,000 11,000 18,000 15,800 - | 221.30 221.19 219.81 219.94 - | 2,213,000.00 2,433,090.00 3,956,580.00 3,475,052.00 - |
| Total over week 51 | 54,800 | 12,077,722.00 | |
| Total accumulated during the share buyback programme
|
1,879,025 | 349,990,025.25 |
All transactions were made under ISIN DK 0010311471 and effected by Danske Bank A/S on behalf of Sydbank A/S.
Further information about the transactions, cf Article 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council on market abuse and the Commission delegated regulation, is available in the attachment.
Following the above transactions, Sydbank holds a total of 2,684,781 own shares, equal to 3.72% of the Bank's share capital.
Yours sincerely
Karen Frøsig, CEO Bjarne Larsen, Deputy Group Chief Executive
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