Tryg launches a share buyback program of DKK 2bn
The share buyback programme is launched with reference to the authorisation to acquire treasury shares granted by the general meeting on 21 March 2024. The authorisation is valid until 31 December 2025 and allows Tryg to acquire shares with a total nominal value of up to DKK 308,196,054 corresponding to app. 10% of its share capital. The share buyback programme will start on 04 December 2024 and end no later than 30 June 2025.
The share buyback programme will be executed in accordance with EU Market Abuse Regulation, EU Regulation no. 596/2014 of 16 April 2014 and the provisions of Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (the “Safe Harbour Regulation”).
Tryg has appointed Danske Bank A/S as lead manager of the share buyback programme. Under a separate agreement, Danske Bank A/S will within the announced limits buyback shares on behalf of Tryg and make related trading decisions independently of and without influence of Tryg.
The share buyback programme will be implemented under the following terms:
- The maximum total consideration for shares bought back will be DKK 2 billion
- The maximum number of shares to be bought back will be 25,000,000
- The maximum number of shares that may be purchased per daily market session may not exceed 25% of the average daily volume of Tryg’s shares traded on Nasdaq Copenhagen A/S during the preceding 20 trading days
- Shares cannot be bought back at a price exceeding the higher of (i) the share price of the last independent transaction on Nasdaq Copenhagen A/S, and (ii) the highest independent bid on the shares on Nasdaq Copenhagen A/S
- On a weekly basis, Tryg will announce transactions made under the share buyback programme in accordance with the reporting obligations imposed by the Safe Harbour Regulation
- The shares will be acquired through public trading on Nasdaq Copenhagen A/S
As described above, the purpose of the programme is to return excess capital to the shareholders of Tryg ultimately through cancellation of shares repurchased.
Tryg may terminate the programme at any time, which will be announced through Nasdaq Copenhagen A/S, if relevant.
Prior to the launch of the share buyback programme, Tryg holds 1,122,443 treasury shares corresponding to 0.182% of the total share capital.
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