DNB Bank ASA – status of share buy-back programme after week 40 2023
On 17 July 2023, DNB Bank ASA (“DNB”) announced that the company has decided to initiate a share buy-back programme comprising up to 1.5 percent of the company’s own shares, which represents a total of 23,139,197 shares.
Up to 15,271,870 shares will be bought back on trading venues by 18 October 2023, and a proposal will be made at the Annual General Meeting in 2024 to cancel the shares. At the same meeting it will also be proposed to redeem the remaining shares – up to 7,867,327 shares – from the Norwegian Government, represented by the Ministry of Trade, Industry and Fisheries (“NFD”), so that NFD’s ownership interest of 34 percent remains unchanged.
The total consideration paid for the shares bought under the buy-back programme, including the shares that will be proposed redeemed from NFD, will not exceed NOK 4.9 billion.
During week 40 of 2023, DNB purchased 1,206,062 own shares at an average price of NOK 213.1685 per share. Following this, DNB owns a total of 13,321,768 own shares, corresponding to 0.86 percent of the shares in the company.
Below is a more detailed overview of the transactions carried out under the buy-back programme:
| Date | Number of shares | Average price (NOK) | Total transaction value (NOK) |
|---|---|---|---|
| 2/10 | 250,000 | 215.7791 | 53,944,775.00 |
| 3/10 | 250,000 | 214.4468 | 53,611,700.00 |
| 4/10 | 250,000 | 212.7561 | 53,189,025.00 |
| 5/10 | 250,000 | 210.5434 | 52,635,850.00 |
| 6/10 | 206,062 | 212.1353 | 43,713,024.19 |
| Previously announced buy-backs under the programme | 12,115,706 | 211.1623 | 2,558,383,753.14 |
| Total buy-backs made under the programme | 13,321,768 | 211.3442 | 2,815,478,127.33 |
For more information about the buy-back programme, please see the stock exchange announcement that was published on 17 July 2023, which is available at www.newsweb.oslobors.no.
For further information, please contact Rune Helland, Head of Investor Relations, on +47 23 26 84 00 or +47 97 71 32 50.
This announcement contains information that is subject to disclosure requirements pursuant to the Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.
Attachment: An overview of all buy-backs made this week is enclosed with this announcement and available at www.newsweb.oslobors.no.