Share buyback in Dampskibsselskabet NORDEN A/S
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Dampskibsselskabet NORDEN A/S
_______________________________________________________________________________
Announcement no. 20
1 April 2011
Share buyback in Dampskibsselskabet NORDEN A/S
On 25 January 2011, NORDEN initiated a share buyback programme, cf. announcement no. 3 of 25 January 2011. Under the programme, NORDEN would purchase treasury shares at a total value of up to DKK 170 million in the period from 25 January 2011 to 31 March 2011 in compliance with Commission Regulation no. 2273/2003 (the "Safe Harbour" method).
Since the announcement of 25 January 2011, the following transactions were made under the share buyback programme:
| Date | Number of shares | Average purchase price | Transaction value (DKK) |
| Accumulated for the period 25/1 to 25/3 | 882,000 | 187.58 | 165,442,380 |
| 28.03.2011 | 7,000 | 183.77 | 1,286,390 |
| 29.03.2011 | 6,500 | 183.17 | 1,190,605 |
| 30.03.2011 | 11,300 | 182.51 | 2,062,363 |
| Accumulated for the period 25/1 to 31/3 | 906,800 | 187.45 | 169,981,738 |
NORDEN’s accumulated share buyback from 25 January to 31 March 2011 amounted to 906,800 shares at a total cost of DKK 170 million. The announced share buyback programme has thus been completed. The purpose of the share buyback was to propose that the shares be cancelled, and a proposal has been made to the annual general meeting to be held on 11 April 2011 that a total of 1.6 million shares be cancelled.
At 31 March 2011, NORDEN holds a total of 3,394,496 treasury shares, corresponding to 7.61% of the aggregate number of issued shares of 44,600,000. The latest announcement was made on 28 March 2011, when it was reported that NORDEN held 7.56% of the Company’s share capital.
Kind regards,
Dampskibsselskabet NORDEN A/S
Carsten Mortensen
President & CEO
Contact at tel. +45 3315 0451: Martin Badsted, Senior Vice President.
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Dampskibsselskabet NORDEN A/S
52, Strandvejen
DK-2900 HELLERUP
CVR no. 67758919
www.ds-norden.com