Implementation of share buy-back programme

Nasdaq Copenhagen

London Stock Exchange        

Euronext Dublin

Other stakeholders

Date    1 February 2023

Implementation of share buy-back programme

The bank’s board of directors decided today to implement a share buy-back programme totalling DKK 385 million with a view to cancelling the shares at a future general meeting.

The share buyback programme is based on the general authority which the bank’s annual general meeting held the 2 March 2022 gave the bank’s board of directors to permit the bank to acquire own shares.

The share buy-back programme runs from 2 February 2023 up to and including 27 July 2023 provided that the forthcoming annual general meeting, to be held on 1 March 2023, gives the board a new authority to permit the bank to acquire its own shares.

During this period the bank will buy its own shares for up to DKK 385 million under the programme, subject to a maximum of 1,000,000 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 programme is DKK 385 million, while a maximum limit of 1,000,000 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 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, in both aggregated and detailed forms.
  
  
  
  

Yours faithfully

Ringkjøbing Landbobank

        

John Fisker

CEO

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