The annual general meeting held on 28 February 2018 authorised the bank’s board of directors to buy shares for up to DKK 170 million, for cancellation at a future general meeting.

The bank’s board of directors has decided to partially exercise the authorisation to buy the bank’s own shares by implementing a share buy-back programme. The share buy-back programme covers own shares to a maximum value of DKK 120 million in accordance with the above authorisation granted by the general meeting on 28 February 2018.

The share buy-back programme will run from 18 April 2018 up to and including 30 June 2018. During this period the bank will buy its own shares for up to DKK 120 million under the programme, but to a maximum of 700,000 shares.

The share buy-back programme will be implemented in compliance with EU Commission Regulation No. 596/2014 of 16 April 2014 and EU Commission Delegated Regulation No. 2016/1052 of 8 March 2016, which together constitute the “Safe harbour” regulation.

The bank may suspend or stop the buy-back of shares at any time, in which event a corporate announcement will be issued.

The conditions for the share buy-back programme are as follows:

• The purpose of the share buy-back is to adjust the bank’s capital structure in accordance with the authorisation adopted at the bank’s annual general meeting on 28 February 2018.
   
• Ringkjøbing Landbobank has entered into a contract with Danske Bank under which Danske Bank will act as lead manager of the programme. Danske Bank will make all trading decisions independently and without influence from Ringkjøbing Landbobank and will purchase shares within the published limits.
   
• The maximum amount that Ringkjøbing Landbobank may pay for shares purchased under the programme is DKK 120 million, while a maximum limit of 700,000 shares may be acquired.
   
• Shares may not be purchased at a price exceeding the higher of (i) the price of the latest independent transaction; and (ii) the highest bid from an independent buyer 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.
   
• Ringkjøbing Landbobank will announce the number of purchased shares, as well as their value, on a weekly basis in a separate announcement to Nasdaq Copenhagen, both in an aggregated and a detailed form.

If you have any questions on the above, you are of course welcome to contact the bank’s management.

Attachment

• Share buy-back programme 18-04-2018 UK