Alm. Brand A/S - Launch of new Safe Harbour share buyback programme

Launch of new Safe Harbour share buyback programme

Based on the expected result for 2024 and a very strong solvency coverage, the Board of Directors of Alm. Brand A/S has decided to exercise the authority to buy back own shares, granted by the Annual General Meeting on 18 April 2024. The authority is valid until the next Annual General Meeting and covers a maximum of 10% of the share capital. Alm. Brand A/S may buy back own shares up to a maximum total purchase price of DKK 150 million.

Goal
The purpose of the share buyback is to reduce the share capital. At a general meeting of Alm. Brand A/S a resolution will be proposed that all shares bought in the program will be cancelled.

Time frame
The share buyback program will start on August 15, 2024 and will be completed by December 31, 2024, both days included. During this period, Alm. Brand A/S will buy back its own shares up to a maximum of DKK 150 million in accordance with Article 5 of Regulation No 596/2014 of the European Parliament and of the Council of 16 April 2014 (MAR) and Commission Delegated Regulation (EU) 2016/1052, also known as the Safe Harbor rules.

Buyback Conditions

Alm. Brand A/S is obliged to appoint a lead manager who will make its own trading decisions independently of and without influence from Alm. Brand A/S and will execute the buyback within the announced limits. Alm. Brand A/S has appointed Nordea Danmark, a subsidiary of Nordea Bank Abp, Finland, as lead manager for the buyback of its own shares.
Under the share buyback program, Alm. Brand A/S may purchase shares up to a maximum aggregate purchase price of DKK 150 million, and not more than 151 million shares, corresponding to 9.99% of the current share capital of Alm. Brand A/S.
Under no circumstances may the shares be purchased at a price that deviates more than 10% from the most recent market price of the shares at the time of purchase.
The shares are not purchased at a price higher than the price of the last independent transaction or higher than the highest independent bid on the trading platform where the purchase takes place.
The maximum number of shares that can be purchased on any trading day may not exceed 25% of the average daily trading volume of Alm. Brand A/S shares on the trading venue where the purchase is made. The average daily trading volume is calculated over the 20 trading days preceding the relevant purchase date.

Every week after the start and at the end of the program, a company announcement will be published regarding any transactions covered by the program.

Contact

For questions regarding this announcement, please contact:

Investors and stock analysts:

Head of IR, Rating and ESG Reporting
Mads Thinggaard
Mobile number +45 2025 5469

Press:

Head of Media Relations
Mikkel Luplau Schmidt
Mobile number 2052 3883