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Jyske Bank initiates a new share repurchase programme

Jyske Bank
·2-min read

As stated in Corporate Announcement no. 41/2021, the Supervisory Board of Jyske Bank A/S (Jyske Bank) has decided to exercise the authority to repurchase shares granted by the Annual General Meeting on 23 March 2021. The programme covers shares at a maximum value of DKK 1 billion.

The share repurchase programme runs as from 1 October 2021 and up to and including 31 March 2022. The share repurchase programme is initiated and structured in compliance with the EU Market Abuse Regulation and EU Commission Regulation No. 596/2014 of 16 April 2014.

Conditions for the share repurchase programme

  • The purpose of the share repurchase programme is to address the company's capital structure.

  • Jyske Bank will enter into a contract with a financial adviser which will independently of and without influence from Jyske Bank handle all purchase decisions and execute the share repurchase within the framework published. Jyske Bank has appointed Citibank as financial adviser and lead manager for the share repurchase programme.

  • The shares cannot be purchased at prices exceeding the higher of (i) the price of the latest independent trade and (ii) the price of the highest independent bid on Nasdaq Copenhagen at the time of the transaction.

  • The total number of shares that may be purchased on a single trading day may not exceed 25% of the average daily trading volume over the preceding 20 trading days on Nasdaq Copenhagen.

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Jyske Bank will announce the number of purchased shares, as well as the value, on a weekly basis in a separate announcement to Nasdaq Copenhagen, both in an aggregated and a detailed form.

The following transactions have been made under the program:

Number of
shares

Average purchase
price (DKK)

Transaction
value (DKK)

1 October 2021

41,569

278.25

11,566,504

Accumulated under the programme

41,569

278.25

11,566,504

With the transactions stated above, Jyske Bank now owns a total of 2,633,642 of treasury shares, excluding investments made on behalf of customers and shares held for trading purposes, corresponding to 3.63% of the share capital.

In accordance with the EU Commission Regulation No. 596/2014, transactions related to the share buy-back programme are attached to this corporate announcement in detailed form.

Yours faithfully,
Jyske Bank

Contact: Birger Krøgh Nielsen, CFO, tel. +45 89 89 64 44.

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