Company Announcement No. 428
On 26 October 2011, DSV initiated the published share buy-back programme, cf. company announcement no. 417 of 26 October 2011. According to the programme DSV will in the period to 23 January 2012 purchase own shares up to a maximum value of DKK 400,000,000 and no more than 5,000,000 shares, corresponding to 2.45% of the share capital of DSV A/S at the day of announcement. The programme was implemented in accordance with the ?Safe Harbour? provisions of EU regulation no. 2273/2003 of 22 December 2003.
| Trading day | Number of shares bought back | Average transaction price | Amount DKK |
| Accumulated for trading day 1-56 | 3,345,024 | 104.72 | 350,275,735 |
| 57: 13 January 2012 | 75,000 | 111.76 | 8,382,075 |
| 58: 16 January 2012 | 43,836 | 111.25 | 4,876,580 |
| 59: 17 January 2012 | 43,694 | 114.50 | 5,002,876 |
| 60: 18 January 2012 | 108,931 | 115.25 | 12,554,734 |
| 61: 19 January 2012 | 80,000 | 117.18 | 9,374,400 |
| 62: 20 January 2012 | 48,000 | 116.23 | 5,579,040 |
| 63: 23 January 2012 | 34,000 | 116.11 | 3,947,774 |
| Accumulated for trading 1-63 | 3,778,485 | 105.86 | 399,993,214 |
DSV?s accumulated share buy-backs in the period from 26 October 2011 to 23 January 2012 thus total 3,778,485 numbers of shares at a total purchase sum of DKK 400 million. The published share buy-back programme has now been concluded and the shares bought back will partly be used to hedge the Group?s incentive programme. At DSV?s annual general meeting it will be proposed that shares which are not used for the hedge of the incentive programme will be cancelled.
As of today, DSV A/S now holds a total of 5,198,650 shares with a face value of DKK 1 in DSV A/S corresponding to 2.74% of the total number of issued shares of 190,000,000.
The last announcement dated 12 January 2012 stated that DSV A/S held 2.53% of the company?s share capital.
Any questions may be addressed to Jens H. Lund, CFO, tel. +45 43 20 30 40.
Yours sincerely,
DSV
Jens Bjørn Andersen Jens H. Lund CEO CFO