Share buy-back programme

Nasdaq Copenhagen
London Stock Exchange
Other stakeholders

8 June 2018

Share buy-back programme

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

A share buy-back programme for purchase of shares to a maximum value of up to DKK 120 million was initiated on 18 April 2018, i.e. a partial exercise of the total authorisation of up to DKK 170 million.

The bank’s management has today decided to exercise the remaining DKK 50 million out of the total authorisation for up to DKK 170 million.

The share buy-back programme that was initiated now covers own shares to a maximum value of up to DKK 170 million in accordance with the above authorisation granted by the general meeting on 28 February 2018. The programme will run to and including 10 August 2018.

During this period the bank will buy its own shares for up to maximum DKK 170 million under the programme, but to a maximum of 1,000,000 shares.

The programme will be implemented in compliance with EU Commission Regulation 596/2014 of 16 April 2014 and EU Commission Delegated Regulation 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 company 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.
   
• Danske Bank continues to 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 170 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 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.

When the above programme for a total of DKK 170 has been completed, the bank will initiate the DKK 300 million share buy-back programme which was adopted in connection with the merger. A separate company announcement to this effect will be issued later.

Any questions on the above may be sent to the bank’s management.

Yours sincerely,

Ringkjøbing Landbobank

John Fisker
CEO

Attachment

• Aktietilbagekøbsprogram 2018_UK