Share Buy-back Programme of 21,988 shares to be initiated

September 16, 2013 at 5:17 PM EDT
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COMPANY ANNOUNCEMENT NO. 44/2013 —  16 SEPTEMBER 2013

 

 

The Board of Directors of Royal Unibrew A/S has decided to initiate a share buy-back of 21,988 shares.

 

Objective

The objective of the share buy-back is to cover the Incentive programme for the Executive Board of Royal Unibrew, see Company Announcement 41/2013 of 28 August 2013.

Authorisation

The share buy-back programme is initiated within the authorisation granted to the Board of Directors at the Annual General Meeting of the Company on 29 April 2013, which will enable the Company to buy back shares for up to 10% of the total share capital. The share buy-back programme will be established and structured in accordance with Commission Regulation (EC) No 2273/2003 of 22 December 2003 (the so-called Safe Harbour method), which ensures that the Company is protected against violation of insider legislation during the buy-back process.

Share buy-back programme

The share buy-back programme is expected to be realised in the period from 17 September 2013 through 20 November 2013.

The maximum total share buy-back in the period will represent 21,988 shares (a nominal value of DKK 0.2 million) corresponding to 0.2% of the share capital.  Based on the share price at 13 September 2013, this will correspond to a market value of approx DKK 14 million. Royal Unibrew has entered into an agreement with Nordea Bank Danmark A/S for Nordea to handle the share buy-back as Lead Manager on behalf of Royal Unibrew. Nordea will make all trading decisions independently of and without involving Royal Unibrew. The shares bought back on each trading day will not exceed 25% of the daily average trading volumes over the 20 trading days preceding the date of purchase.

No shares will be bought back under the share buy-back programme at a price exceeding the higher of the two following prices:

  • the price of the latest independent transaction; and
  • the highest independent bid on NASDAQ OMX Copenhagen.

Royal Unibrew will be entitled to suspend the share buy-back programme in the event of material changes to the Company's circumstances or in the market. Should the programme be suspended, Royal Unibrew will announce this in a Company Announcement, and Nordea will stop buying back shares in the market.

Royal Unibrew will announce the number of shares bought back and their value in separate weekly Company Announcements.

Please direct any queries to me at tel. +45 56 77 15 05.

Yours sincerely

Royal Unibrew A/S

 

Lars Jensen

CFO