The Board of Directors of SP Group A/S (SP Group) has decided to buy back shares in accordance with the authorisation granted by the Annual General Meeting on 27 April 2017. As of 22 March 2018, SP Group holds 56,421 number of treasury shares of a nominal value of DKK 10 each corresponding to 2.48 % of SP Group’s share capital.
The purpose of the share buy-back programme is to hedge the existing warrant programmes.
The buy-back programme runs from 11 April 2018 until 31 December 2018, both days inclusive. The share buy-back programme is initiated and structured in compliance with the EU Commission Regulation No. 596/2014 of 16 April 2014 as regards Market Abuse, the so-called Market Abuse Regulation that protects listed companies’ board and executive board against violation of insider legislation in connection with share buy-backs.
SP Group has entered into a contract with Jyske Bank A/S (Jyske Bank), in which Jyske Bank acts as financial advisor and as Lead Manager of the programme. Jyske Bank handles all purchase transactions independently of and without influence from SP Group.
The share buy-back programme is subject to the following terms:
- The maximum amount that SP Group may pay for shares purchased under the share buy-back programme is no more than DKK 40.0 million
- The maximum number of shares that can be bought in one single trading day may not be greater than 25.0 % of the average daily trading volume of SP Group’s shares on NASDAQ OMX Copenhagen in the last 20 days preceding the given trading day
- The shares cannot be purchased at prices exceeding the higher of
- The price of the latest independent trade
- The price of the highest independent bid on NASDAQ Copenhagen at the time of the transaction SP Group will announce the number of repurchased shares and the value of these shares on a weekly basis in a separate announcement to NASDAQ Copenhagen.
