Company Announcement No. 649
The Board of Directors of DSV has decided to exercise the authority to buy back shares granted by the Annual General Meeting on 10 March 2016. The authority is valid until 10 March 2021 and covers a maximum of 19.0 million shares. No shares have been bought under this authority before the launch of this share buyback programme.
The purpose of the share buyback is to adjust the capital structure and meet obligations relating to the Group's share-based incentive programmes. At the next Annual General Meeting of DSV, a resolution will be proposed that any shares not used for hedging of the incentive programmes be cancelled.
The share buyback programme will run from 7 August 2017 to 13 October 2017, both days inclusive. During this period, DSV will buy own shares up to a maximum value of DKK 1,000 million in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and the Delegated Regulation no. 2016/1052 of the EU-Commission, also referred to as the Safe Harbour rules.
A company announcement of any transactions under the programme will be published in the beginning of every week throughout the duration of the programme.
Any questions may be addressed to Flemming Ole Nielsen, Investor Relations Director, tel. +45 43 20 33 92.