A.P. Møller - Mærsk A/S – Initiates first phase of share buy-back program

ANNOUNCEMENT   A.P. Møller - Mærsk A/S – Initiates first phase of share buy-back program As announced on 18 November 2020, A.P. Møller - Mærsk A/S (the “Company”) has decided to initiate a share buy-back program of up to DKK 10 billion (around USD 1.6 billion) and a maximum of 1.79 million shares to be acquired over a period of up to 15 months.The buy-back program will be executed under EU Commission Regulation No. 596/2014 of the European Parliament and Council of 16 April...

København K, 30/11/2020 (informazione.news - comunicati stampa - trasporti)

ANNOUNCEMENT

 

A.P. Møller - Mærsk A/S – Initiates first phase of share buy-back program

 

As announced on 18 November 2020, A.P. Møller - Mærsk A/S (the “Company”) has decided to initiate a share buy-back program of up to DKK 10 billion (around USD 1.6 billion) and a maximum of 1.79 million shares to be acquired over a period of up to 15 months.

The buy-back program will be executed under EU Commission Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052 (the “Safe Harbour Regulation”) which ensures that the Company, its Board of Directors and its Executive Board, are protected against violation of insider legislation during the share buy-back period.

The share buy-back program is initiated pursuant to the authorisation granted to the Board of Directors by the Annual General Meeting in 2019, which entitled the Company to acquire treasury shares at a nominal value not exceeding 15% of the share capital at the market price applicable at the time of acquisition with a deviation of up to 10%.

The first phase of the program will run from 1 December 2020 up to 29 April 2021. The shares to be acquired will be limited to a total market value of DKK 3.3 bn. A maximum of 158,586 A shares and 620,270 B shares can be acquired in the first phase of the buy-back program.

The Company has appointed Skandinaviska Enskilda Banken (“SEB”) as lead manager for the first phase of the share buy-back. SEB will make own trading decisions independently of and without influence from the Company and within the announced limits.

Prior to the share buy-back, the Company holds 108,870 A shares and 473,021 B shares, equal to 2.90% of the share capital.

As earlier announced, the purpose of the program is to adjust the capital structure of the Company and to meet obligations under long-term incentive programs.

Terms:

Copenhagen, 30 November 2020.

 Contact persons:

Head of Investor Relations, Stig Frederiksen, tel. +45 3363 3106

Head of Media Relations, Signe Wagner, tel. +45 3363 1901

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