MT Højgaard Holding A/S: MT Højgaard Holding A/S initiates a share buy-back programme pursuant to a ”Safe Harbour” model
The board of directors of MT Højgaard Holding A/S has decided to buy back treasury shares (own shares) in accordance with the authorisation granted by the shareholders at the annual general meeting on 5 April 2019. According to this authority the company may buy treasury shares until and including 1 April 2024 within 10% of the share capital.
The purpose of the share buy-back programme is to meet MT Højgaard Holding A/S’ obligations arising from the company’s share-based incentive programme.
The share buy-back will run from 24 November 2020 to 30 September 2021, both days inclusive. During this period MT Højgaard Holding A/S may repurchase up to 75,000 treasury shares, corresponding to 0.96% of the current share capital of MT Højgaard Holding A/S, provided that the maximum total purchase price payable by MT Højgaard Holding A/S for the shares is DKK 15,000,000.
Other buy-back terms:
- The programme will be initiated pursuant to the so-called ”Safe Harbour” provisions in the Regulation (EU) No. 596/2014 of 16 April 2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016.
- MT Højgaard Holding A/S has entered into an agreement with Danske Bank according to which Danske Bank is appointed as lead manager of the programme. Danske Bank will make its own trading decisions independently of and without any influence from MT Højgaard Holding A/S.
- The share buy-back may not be executed at a price which exceeds the higher of (i) the price of the last independent trade and (ii) the highest current independent purchase bid on Nasdaq Copenhagen at the time of the purchase.
- The maximum number of shares to be purchased on each trading day may not exceed 25% of the average daily volume of MT Højgaard Holding A/S’ shares traded on Nasdaq Copenhagen over the last 20 trading days prior to the date of purchase.
- MT Højgaard Holding A/S may suspend or terminate the programme at any time.
MT Højgaard Holding A/S will, throughout the duration of the programme, on a weekly basis issue a separate company announcement in respect of the transactions made under the programme, including the number and the value of the repurchased shares.
The launch of the share buy-back programme does not affect the previously disclosed forecast guidance for 2020.
Contact: CFO Martin Stig Solberg can be contacted by phone on +45 2270 9365
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