Dampskibsselskabet NORDEN A/S – Weekly report on share buy-back
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Dampskibsselskabet NORDEN A/S
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Announcement no. 58
27 November 2013
Dampskibsselskabet NORDEN A/S – Weekly report on share buy-back
On 13 November 2013, NORDEN initiated the fourth phase of a share buy-back programme in accordance with EU Commission Regulation no. 2273/2003 (the Safe Harbor method), which ensures that the Company is protected against violation of insider legislation during the share buy-back.
Under the share buy-back programme, NORDEN will purchase treasury shares for up to a total of USD 30 million (approximately DKK 170 million). The first phase of the share buy-back programme ran from 8 April 2013 to 6 May 2013 and had a value of DKK 20 million. The second phase of the share buy-back programme ran from 15 May 2013 to 13 August 2013 and had a value of DKK 50 million. The third phase of the share buy-back programme ran from 14 August 2013 to 12 November 2013 and had a value of DKK 50 million. The fourth phase of the share buy-back programme will have a value of up to DKK 50 million and is expected to run until 4 March 2014.
This fourth phase should bring the value of the total share buy-back up to a total of USD 30 million. Since the company announcement of 13 November 2013 on the fourth phase of the share buy-back programme, the following transactions have been made under this third phase:
| Date | Number of shares | Average purchase price (DKK) | Transaction value (DKK) |
| 13/11/2013 | 7,000 | 234.26 | 1,639,820 |
| 14/11/2013 | 6,500 | 233.78 | 1,519,570 |
| 15/11/2013 | 18,000 | 233.24 | 4,198,320 |
| 18/11/2013 | 6,000 | 234.23 | 1,405,380 |
| 19/11/2013 | 5,000 | 233.46 | 1,167,300 |
| 20/11/2013 | 5,500 | 233.27 | 1,282,985 |
| 21/11/2013 | 8,000 | 233.31 | 1,866,480 |
| 22/11/2013 | 9,000 | 232.98 | 2,096,820 |
| 25/11/2013 | 7,000 | 234.31 | 1,640,170 |
| 26/11/2013 | 3,699 | 236.38 | 874,370 |
| Accumulated | 75,699 | 233.70 | 17,691,215 |
Since the fourth phase of the share buy-back programme was initiated on 13 November 2013, the total number of repurchased shares is 75,699 at a total amount of DKK 17,691,215.
With the transactions stated above, NORDEN holds a total of 2,233,440 treasury shares, corresponding to 5.2%. The total number of shares in NORDEN is 43 million. Adjusted for treasury shares, the number of shares is 40,766,560.
Kind regards,
Dampskibsselskabet NORDEN A/S
Carsten Mortensen
President & CEO
Further information:
Martin Badsted, Executive Vice President, tel.: +45 3315 0451
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Dampskibsselskabet NORDEN A/S
52, Strandvejen
DK-2900 HELLERUP
CVR no. 67758919
www.ds-norden.com