NORDEN INITIATES SHARE BUY-BACK PROGRAMME

ANNOUNCEMENT NO. 56 - 3 MARCH 2022The Board of Directors has decided to carry out a share buy-back of up to totally USD 30 million (approximately DKK 201.5 million). The share buy-back programme is initiated under 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...

Hellerup, 03/03/2022 (informazione.news - comunicati stampa - trasporti)

ANNOUNCEMENT NO. 56 - 3 MARCH 2022

The Board of Directors has decided to carry out a share buy-back of up to totally USD 30 million (approximately DKK 201.5 million). The share buy-back programme is initiated under 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 25 March 2021.

Purpose
The purpose of the share buy-back programme is to adjust the capital structure of the Company. A maximum of 2,245,600 shares can be acquired.

Time frame
The share buy-back programme runs from 3 March 2022 up to and including no later than end April 2022.

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

In connection with the announced share buy-back program, A/S Motortramp will sell shares pro rata to maintain its current ownership of just under 32% of the shares in Dampskibsselskabet NORDEN A/S.

Kind regards

Dampskibsselskabet NORDEN A/S

Klaus Nyborg
Chairman of the board

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

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