Kurs & Likviditet
Beskrivning
| Land | Danmark |
|---|---|
| Lista | Mid Cap Copenhagen |
| Sektor | Telekom & Media |
| Industri | Media |
Announcement no. 03-2020
6 February 2020
The Board of Directors of North Media A/S has resolved to launch a share buyback programme of up to 500,000 shares. North Media A/S will buy back shares under the programme for up to a total of DKK 35 million. The share buyback of 500,000 shares represents 2.49% of the share capital of North Media A/S.
At 6 February 2020, the Company’s portfolio of treasury shares amounted to 1,600,000 shares, equal to 7.98% of the share capital.
Purpose
The purpose of the share buyback programme is to increase the portfolio of treasury shares with a view to using such shares as full or partial payment in connection with any future acquisitions, and to cover obligations under any future share-based incentive programmes.
Authorisation of the Board of Directors
The Board of Directors is authorised to allow North Media A/S to acquire shares in the Company for an aggregate amount of up to 15% of the share capital. Shares may be acquired at the official market price applicable at the time of purchase as quoted on Nasdaq Copenhagen subject to a deviation of up to plus or minus 5%. The authorisation was granted for a five-year period ending on 26 March 2020. The Board of Directors intends to propose that the authorisation be renewed at the annual general meeting being held on 27 March 2020.
Period
The share buyback programme runs from 10 February 2020 and will close no later than on 30 September 2020.
Terms and conditions
North Media has appointed Danske Bank to act as lead manager of the share buyback process. Danske Bank will make its trading decisions independently and under no influence or involvement from North Media. Shares may be acquired at the official market price applicable at the time of purchase as quoted on Nasdaq Copenhagen subject to a deviation of up to plus or minus 5%.
The Company’s principal shareholder and Vice-Chairman of the Board of Directors, Richard Bunck, who through Baunegård ApS holds 55.75% of the Company’s shares, has announced that Baunegård ApS will not take part in selling shares back to the Company.
North Media will have the right to stop the share buyback temporarily or entirely at any time and will publish any decision to do so through a company announcement.
As long as the share buyback programme remains in effect, North Media intends to regularly issue separate announcements on transactions made under the programme.
For further information
Kåre Stausø Wigh, Group Executive Director & CFO, +45 25 65 21 45