Implementation of share buy-back programme

Nasdaq Copenhagen

London Stock Exchange

Euronext Dublin

Other stakeholders

Date        15 September 2021

Implementation of share buy-back programme

The bank’s board of directors decided today to implement a share buy-back programme totalling DKK 242.5 million with the purpose of cancelling the shares at a future general meeting. The decision is based on the general authority which the bank’s annual general meeting of 3 March 2021 gave the bank’s board of directors to permit the bank to acquire its own shares to a total nominal value of 10% of the bank’s share capital, so that the shares can be acquired at the current listed price, plus or minus 10% at the time of acquisition. The buy-back amount equals the share of the share buy-back programme planned in 2020 that was not executed due to the Corona situation.

The share buy-back programme runs from 1 October 2021 up to and including 25 January 2022. During this period the bank will buy its own shares for up to DKK 242.5 million under the programme, subject to a maximum of 800,000 shares.

The share buy-back programme will be implemented in compliance with Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 and Commission Delegated Regulation (EU) 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.
  
  
  
  
• Ringkjøbing Landbobank has appointed Danske Bank as lead manager of the share buy-back programme. Danske Bank will make all trading decisions independently, 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 share buy-back programme is DKK 242.5 million, with a maximum limit of 800,000 shares.
  
  
  
  
• 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 traded 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 etc., in both aggregated and detailed forms.
  
  
  
  

Yours faithfully

Ringkjøbing Landbobank

John Fisker

CEO

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