24th Feb 2016 07:27
Sydbank A/S / MiscellaneousSydbank to buy back shares 24-Feb-2016 / 08:27 CET/CESTDissemination of a Regulatory Announcement, transmitted by EQS Group AG.The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Aabenraa, Denmark, 2016-02-24 08:27 CET (GLOBE NEWSWIRE) --Sydbank's Board of Directors has decided to implement a share buyback programmeof DKK 350m with the purpose of reducing the Bank's share capital with theshares bought under the programme. Using the closing price on Tuesday 23 February 2016 the buyback equals about1.8m shares, equal to 2.4% of the Bank's share capital. The share buyback will be executed in accordance with the authorisation of thegeneral meeting of 4 March 2013 whereby the Board of Directors may acquire ownshares of up to 10% of the capital. The share buyback is part of the capital adjustment to optimise the capitalstructure in accordance with the Bank's capital targets and capital policypublished in the Bank's 2014 Annual Report. At 31 December 2015 the Bank'sCommon Equity Tier 1 capital ratio stood at 14.5% and its capital ratio stoodat 17.6%. The share buyback programme will be initiated on Monday 29 February 2016 andwill be completed by this year. Sydbank has chosen Danske Bank to manage thebuyback which will be executed in compliance with the European Commission'sRegulation No 2273/2003 of 22 December 2003, known as the Safe HarbourRegulation. The share buyback programme will be subject to the following guidelines: -- On each trading day shares purchased may not exceed 25% of the average daily volume traded in the preceding 20 trading days. -- Shares may not be bought at a price above the higher of: 1. the price of the most recent independent trade on Nasdaq Copenhagen 2. the price of the highest independent bid on Nasdaq Copenhagen. On the first banking day of each week Sydbank will state the number and valueof repurchased shares in a company announcement, the first time being on 7March 2016. Sydbank may suspend or end the share buyback programme at any time. In suchcase this will be announced in a company announcement to Nasdaq Copenhagen. Click on, or paste the following link into your web browser, to viewthe associated documents https://cns.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=548324 News Source: NASDAQ OMX --------------------------------------------------------------------------- 24-Feb-2016 The EQS Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap.de/ukreg --------------------------------------------------------------------------- Language: English Company: Sydbank A/S Dänemark ISIN: DK0010311471 Category Code: MSC TIDM: 0G6U Sequence Number: 3011 Time of Receipt: 24-Feb-2016 / 08:26 CET/CEST End of Announcement EQS News Service --------------------------------------------------------------------------- 439673 24-Feb-2016UK-Regulatory-announcement transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.
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