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 3 June 2020 to 3 July 2020. During this period, Per Aarsleff Holding A/S will buy back B shares up to a maximum value of DKK 37 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 Nordea Danmark (branch of Nordea Bank Abp, Finland) to handle the share buy-back as lead manager.
- The maximum total consideration for B shares bought back in the period of the programme is DKK 37 million, and Per Aarsleff Holding A/S can acquire a maximum of 145,550 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.