PSNRDC A Park Street Nordicom A

Park Street Nordicom A/S – New share buyback program

Park Street Nordicom A/S – New share buyback program

Park Street Nordicom A/S – New share buyback program

Copenhagen, 19 October 2020



Park Street Nordicom A/S has today initiated a share buyback program for up to DKK 11.9m, to be executed during the period from October 19, 2020 to 25 February, 2021.

The buyback program is being launched in accordance with the authorization granted to the board of directors as stated on the point 3.7 of the Articles of Associated and approved by the shareholders at the Annual General Meeting on April 25, 2019. The board of directors is authorized in the period until 31 December 2021 to allow the Company to acquire class A treasury shares corresponding to a total of 10% of the Company’s class A share capital.



Park Street Nordicom has appointed Nordea Bank as lead manager of the buyback program. Under the agreement, Nordea Bank will purchase shares on behalf of Park Street Nordicom and will make its trading decisions independently of, and without influence by Park Street Nordicom.



The buyback program is subject to the following terms:

  • The purpose of the program is to reduce the share capital of Park Street Nordicom
  • Total purchases of own shares will be limited to a total market value of DKK 11.9m
  • Maximum number of shares that can be bought is 1,203,000 shares of DKK 1 each
  • Execution of the buyback will take place from October 19, 2020 to February 25, 2021
  • The buyback program will be structured and carried out in compliance with the provisions of Regulation No. 596/2014 of the European Parliament and of the Council on market abuse (the Market Abuse Regulation - MAR) and delegated legislation under MAR; except for the limitation of implementing the authorized buy-back of the Company’s shares within the 25% daily trading volume, due to the low levels of market liquidity in the Company’s shares.
  • During the life of the buyback program no shares will be bought back at a price exceeding the higher of:
    1. the share price of the latest independent trade, and
    2. the highest current independent bid on Nasdaq Copenhagen



Details of transactions executed under the buyback program will be publicly disclosed on  not later than the end of the seventh daily market session.



Enquiries regarding this announcement should be addressed to:

David Casado, Head of Finance at

Company Website: 

Telephone Number:

EN
19/10/2020

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