Nasdaq Copenhagen
London Stock Exchange
Euronext Dublin
Other stakeholders
5 July 2022
Implementation of share buy-back programme
This is to advise that, further to the corporate announcement of 27 April 2022, “Ringkjøbing Landbobank’s report for the first quarter of 2022”, the Danish FSA has granted Ringkjøbing Landbobank permission to launch its share buy-back programme, as previously decided, with the purpose of cancelling the shares at a future general meeting.
The share buy-back programme is based on the general authority granted by the bank’s annual general meeting of 2 March 2022 to the board of directors, enabling the bank to acquire its own shares.
The share buy-back programme runs from and including 4 August 2022 up to and including 25 January 2023.
During the period of the programme, the bank will buy a maximum of 1,000,000 of its own shares for a total of up to DKK 369 million.
The share buy-back programme will be implemented 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) No 2016/1052 of 8 March 2016, which together constitute the Safe Harbour regulation.
The bank may suspend or stop the buy-back of shares at any time, in which event a corporate announcement will be issued.
The conditions for the share buy-back programme are as follows:
- The purpose of the share buy-back is to adjust the bank’s capital structure.
- Ringkjøbing Landbobank has appointed Danske Bank lead manager of the share buy-back programme. Danske Bank will make all trading decisions independently, without influence from Ringkjøbing Landbobank, and will purchase shares within the published limits.
- The maximum amount that Ringkjøbing Landbobank may pay for shares purchased under the programme is DKK 369 million, while the maximum limit on the number of shares which it may acquire is 1,000,000.
- Ringkjøbing Landbobank may not purchase shares at a price exceeding the higher of (i) the price of the latest independent transaction; and (ii) the highest bid from an independent buyer on Nasdaq Copenhagen at the time of the transaction.
- The total number of shares that Ringkjøbing Landbobank may purchase on a single trading day cannot exceed 25% of the average daily traded volume over the preceding 20 trading days at Nasdaq Copenhagen.
- Ringkjøbing Landbobank will issue a separate weekly announcement to Nasdaq Copenhagen, in both aggregated and detailed forms, stating the number and value of the shares it has purchased.
Yours faithfully
Ringkjøbing Landbobank
John Fisker
CEO
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