The Danish FSA has approved Alm. Brand’s increase and extension of the existing share buyback programme, which was announced on 1 December 2015. After approval, the share buyback programme will amount to up to DKK 400 million and will be running until end-February 2017.
The programme will be implemented in accordance with the safe harbour rules of Commission Regulation no. 2273/2003 of 22 December 2003. Alm. Brand af 1792 fmba continues to participate proportionately in the programme, thereby maintaining its ownership interest of approximately 58% in Alm. Brand.
The share buyback will be completed under the authorisation granted to the Board of Directors by the shareholders at the general meeting held on 27 April 2015 for the purpose of acquiring own shares.
Alm. Brand has currently bought back own shares in a total amount of DKK 125 million, equivalent to 31% of the overall programme.
Contact
Please direct any questions regarding this announcement to:
Søren Boe Mortensen, CEO, tel. +45 35 47 79 07, or Martin Egenhardt, IR Manager, tel. +45 35 47 79 22.
