Dampskibsselskabet NORDEN A/S – Weekly report on share buy-back
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Dampskibsselskabet NORDEN A/S
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Announcement no. 16
21 May 2013
Dampskibsselskabet NORDEN A/S – Weekly report on share buy-back
On 15 May 2013, NORDEN initiated the second 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 buyback.
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 will have a value of up to DKK 50 million and is expected to run until 13 August 2013. The following phases, which may bring the value of the total share buy-back up to a total of USD 30 million, are expected to be decided upon and announced in connection with publication of the Company’s interim reports.
Since the company announcement of 15 May 2013 on the second phase of the share buy-back programme, the following transactions have been made under this second phase:
| Date | Number of shares | Average purchase price (DKK) | Transaction value (DKK) |
| 15/05/2013 | 7,000 | 186.33 | 1,304,310 |
| 16/05/2013 | 6,000 | 189.76 | 1,138,560 |
| 17/05/2013 | 5,600 | 190.56 | 1,067,136 |
| Accumulated | 18,600 | 188.71 | 3,510,006 |
Since the second phase of the share buy-back programme was initiated on 15 May 2013, the total number of repurchased shares is 18,600 at a total amount of DKK 3,510,006.
With the transactions stated above, NORDEN holds a total of 1,849,632 treasury shares, corresponding to 4.3%. The total number of shares in NORDEN is 43million. Adjusted for treasury shares, the number of shares is 41,150,368.
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