Dampskibsselskabet NORDEN A/S – Weekly report on share buy-back

Report this content

    

Attached please find below text as PDF file.

Dampskibsselskabet NORDEN A/S

______________________________________________________________________________

Announcement no. 56

20 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
       
Accumulated 42,500 233.66 9,930,390

Since the fourth phase of the share buy-back programme was initiated on 13 November 2013, the total number of repurchased shares is 42,500 at a total amount of DKK 9,930,390.

With the transactions stated above, NORDEN holds a total of 2,208,244 treasury shares, corresponding to 5.1%. The total number of shares in NORDEN is 43 million. Adjusted for treasury shares, the number of shares is 40,791,756.

 

Kind regards,

Dampskibsselskabet NORDEN A/S

Carsten Mortensen

President & CEO

 

Further information:

Martin Badsted, Executive Vice President, tel.: +45 3315 0451

_______________________________________________________________________________

Dampskibsselskabet NORDEN A/S

52, Strandvejen

DK-2900 HELLERUP

CVR no. 67758919

www.ds-norden.com