Initiation of share repurchase programme
08 Février 2024 - 10:19AM
Initiation of share repurchase programme
Company announcementfor ROCKWOOL A/SRelease no. 02 – 2024to
Nasdaq
Copenhagen
8 February 2024
Initiation of share repurchase programme
As stated in the 2023 Annual Report, ROCKWOOL Group has decided
to launch a share repurchase programme of up to 160 MEUR.
Today, ROCKWOOL has initiated the share repurchase programme
which will run from 8 February 2024 until 7 February 2025. During
this period, the Company will buy own shares for up to a maximum of
160 MEUR.
The programme is implemented in accordance with EU Commission
Regulation No 596/2014 of 16 April 2014 and EU Commission Delegated
Regulation No 2016/1052 of 8 March 2016, which together constitute
the “Safe Harbour” regulation.
The Company may at any time suspend or stop the share
repurchase. If so, this will be announced in a company
announcement.
The terms of the share repurchase programme are as follows:
- ROCKWOOL has engaged Danske Bank as lead manager of the share
repurchase programme. Danske Bank will independently and without
influence from ROCKWOOL make its trading decisions and execute
share purchases within the published framework.
- The amount that ROCKWOOL can pay for shares purchased under the
programme is 160 MEUR, with a maximum monthly amount of 20
MEUR.
- The purchase may not be made at a share price that exceeds the
highest of (i) the share price of the most recent independent
trade; or (ii) the highest independent buyer’s bid in the Nasdaq
Copenhagen market at the time of trading.
- The maximum number of shares that can be purchased in a single
trading day will be 25 percent of the average daily share trading
volume during the 20 preceding trading days at Nasdaq
Copenhagen.
- The repurchase comprises B shares only. The maximum number of
shares that may be acquired under the programme is 1 200 000 B
shares.
- ROCKWOOL will publish a separate company announcement to Nasdaq
Copenhagen on a weekly basis announcing the number of shares
repurchased and their value, including detailed information on the
individual trades.
- The Board of Directors will propose at the Annual General
Meeting in 2025 that the shares repurchased under the programme
will be cancelled as part of a reduction of the Company’s share
capital.
- The repurchase is conducted pursuant to the authorisation
granted by the Annual General Meeting to the Board of Directors on
29 March 2023 expiring on the upcoming general meeting in 2024. The
Board of Directors will propose a renewal of the authorisation to
enable the repurchase to continue in accordance with the above
after the general meeting.
Further
information:
Kim Junge AndersenChief Financial OfficerROCKWOOL A/S+45 46 56
03 00
Rockwool AS (TG:R90)
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