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UIE's share buy-back programme

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As stated in UIE’s Half Year Report 2024, UIE has resolved to initiate a new buy-back programme with the intention of acquiring up to 3% of its share capital before the end of December 2025, so long as the shares continue to be traded at a material holding discount. The share buy-back programme is initiated pursuant to the authorisation granted at the Annual General Meeting in May 2022.

UIE has decided that the share buy-back will be carried out in two parallel programmes. 

Safe Harbour programme
UIE initiates a share buy-back programme that will be conducted under the European Commission’s Regulation No. 596/2014 of 16 April 2014 (the ”Market Abuse Regulation”) and the Commission’s delegated regulation (EU) 2016/1052 of 8 March 2016, which together constitute the Safe Harbour Regulation. 

The purpose of the share buy-back programme is to reduce the share capital.

The share buy-back programme carried out under the Safe Harbour regulation is subject to the following guidelines: 

  • The maximum amount to be invested by UIE is DKK 265 million.
  • The maximum number of shares to be acquired is 950,000 shares, corresponding to 2.95% of the share capital.
  • The maximum number of shares acquired in one single trading day may not exceed 25% of the average daily trading volume of UIE shares on Nasdaq Copenhagen over the last 20 trading days prior to the date of purchase.
  • When executing trades under the Safe Harbour programme, UIE will not purchase shares at a price higher than the higher of the price of the last independent trade and the highest current independent bid.
  • Carnegie Investment Bank (“Carnegie”) will handle the share buy-back, thus Carnegie will purchase shares and make trading decisions independently of and without the influence of UIE within the specified time frame.

The share buy-back programme will be initiated on Thursday, 15 August 2024 and concluded no later than 31 December 2025.

For the entire duration of the share buy-back programme, UIE will, on a weekly basis, publish a separate company announcement to Nasdaq Copenhagen stating the number and value of repurchased shares under the Safe Harbour regulation. 

UIE is entitled to suspend or stop the programme at any time subject to public disclosure to Nasdaq Copenhagen.

Block trade programme
The purpose of the block trade programme is to reduce the share capital.

The share buy-back programme carried out outside the Safe Harbour rules is subject to the following guidelines: 

  • The number of shares to be bought – including the shares bought under the Safe Harbour programme – may not exceed 950,000 shares.
  • Share buy-backs outside the Safe Harbour programme will be carried out in line with Nasdaq Copenhagen’s guidelines for issuers and at a price per share that falls within the price range between the highest and lowest selling price listed on Nasdaq Copenhagen at any time.
  • Share buy-backs outside the Safe Harbour rules are subject to UIE’s internal insider trading rules, and UIE will therefore not buy back shares while the trading window is closed, beginning three weeks prior to the publication of UIE’s annual or interim reports.

The share buy-back programme will be concluded no later than 31 December 2025.

For further information, please contact:

UIE Plc. 
Ulrik Juul Østergaard, Managing Director, + 45 33 93 33 30
 

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