NORDEN initiates share buy-back programme

ANNOUNCEMENT NO. 87 - 4 NOVEMBER 2020The Board of Directors has decided to carry out a share buy-back of up to a total of USD 20 million (approximately DKK 126 million). The share buy-back programme is initiated pursuant to the authorisation granted to the Board of Directors, which entitles NORDEN to acquire treasury shares at a nominal value not exceeding 10% of the share capital at the market price applicable at the time of acquisition with a deviation of up to 10%. This authorisation was...

Hellerup, 04/11/2020 (informazione.news - comunicati stampa - trasporti)

ANNOUNCEMENT NO. 87 - 4 NOVEMBER 2020

The Board of Directors has decided to carry out a share buy-back of up to a total of USD 20 million (approximately DKK 126 million). The share buy-back programme is initiated pursuant to the authorisation granted to the Board of Directors, which entitles NORDEN to acquire treasury shares at a nominal value not exceeding 10% of the share capital at the market price applicable at the time of acquisition with a deviation of up to 10%. This authorisation was most recently renewed at NORDEN's general meeting on 12 June 2020.

Purpose
The purpose of the share buy-back program is to adjust the capital structure of the Company. A maximum of 4,070,000 shares can be acquired.

Time frame
The share buy-back programme runs from 4 November 2020 up to and including no later than end February 2021.

Safe Harbour method
The programme will be structured in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and Commission Delegated Regulation (EU) 2016/1052, (Safe Harbour regulation).

Terms

Kind regards

Dampskibsselskabet NORDEN A/S

Klaus Nyborg

Chairman of the board

For further information:
Thomas France, Investor Communications Partner, tlf.: 3315 0451

Attachment