News / per-aarsleff-holding-a-s-launches-share-buyback-programme

27.08.2019 - Company announcement

Per Aarsleff Holding A/S launches share buyback programme

The Board of Directors of Per Aarsleff Holding A/S has decided to use its authority to let the company buy back own B shares.

Purpose
The purpose of the share buyback is to meet Per Aarsleff Holding A/S’s obligations arising from the share-based incentive programme for the employees (employee share programme with matching shares). 

Period and maximum value of the share buyback programme
The share buyback programme will run from 2 September 2019 to 1 November 2019, both days inclusive. During this period, Per Aarsleff Holding A/S will buy back B shares up to a maximum value of DKK 30 million in accordance with Regulation (EU) No. 596/2014 of 16 April 2014 of the European Parliament and Council and Commission Delegated Regulation (EU) 2016/1052, also referred to as the Safe Harbour rules.

Share buyback terms

  • Per Aarsleff Holding A/S has entered into an agreement with SEB Danmark (branch of Skandinaviska Enskilda Banken AB (publ), Sweden) to handle the share buyback as lead manager.
  • The maximum total consideration for B shares bought back in the period of the programme is DKK 30 million, and Per Aarsleff Holding A/S can acquire a maximum of 106,397 B shares.
  • No shares must be bought back at a price exceeding the higher of (i) the share price of the latest independent transaction and (ii) the highest current independent bid at Nasdaq Copenhagen A/S at the time of trading.
  • The maximum number of B shares of the company to be bought back on each business day will be equivalent to 25% of the average daily trading volume of the company’s B shares traded on Nasdaq Copenhagen during the preceding 20 business days.

A company announcement of any transactions under the programme will be published by Per Aarsleff Holding A/S each week throughout the duration of the share buyback programme.

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Per Aarsleff Holding A/S launches share buyback programme in accordance with the “safe harbour method”