News / per-aarsleff-holding-a-s-launches-share-buyback-programme-2021

28.05.2021 - Company announcement

Per Aarsleff Holding A/S launches share buyback programme (2021)

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

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

Period and maximum value of the share buyback programme
The share buyback programme will run from 28 June 2021 to 1 April 2022, both days inclusive. During this period, Per Aarsleff Holding A/S will buy back B shares up to a maximum value of DKK 125 million in accordance with Regulation (EU) No. 596/2014 of the European Parliament and Council of 16 April 2014 and the Commission Delegated Regulation (EU) 2016/1052, also referred to as the “Safe Harbour rules”.

Buyback terms

  • Per Aarsleff Holding A/S has appointed Nordea Danmark (branch of Nordea Bank Abp, Finland) as lead manager of the programme.
  • The maximum total consideration for B shares repurchased in the period of the programme is DKK 125 million, and Per Aarsleff Holding A/S may purchase a maximum of 500,000 B shares.
  • The share buyback may not be executed at a price which exceeds the higher of (i) the price of the last independent trade and (ii) the highest current independent purchase bid at Nasdaq Copenhagen A/S at the time of trading.
  • The maximum number of B shares that may be purchased on each business day may not exceed 25% of the average daily trading volume of the company’s B shares traded on Nasdaq Copenhagen during the preceding 20 trading days prior to the time of purchase.

On a weekly basis, Per Aarsleff Holding A/S will publish a company announcement of any transactions under the programme.