Company Announcement No. 438
On 21 February 2012, DSV initiated the published share buy-back programme, cf. company announcement no. 435 of 21 February 2012. According to the programme DSV will in the period to 23 April 2012 purchase own shares up to a maximum value of DKK 200,000,000 and no more than 2,000,000 shares, corresponding to 1.05% of the present share capital of DSV A/S. The program is implemented in accordance with the "Safe Harbour" provisions of EU regulation no. 2273/2003 of 22 December 2003. DSV will therefore publish the accumulated buy-backs under the programme every 7th trading day.
| Trading day | Number of shares bought back | Average transaction price | Amount DKK |
| 1: 21 February 2012 | 37,000 | 127.63 | 4,722,384 |
| 2: 22 February 2012 | 46,000 | 124.28 | 5,716,834 |
| 3: 23 February 2012 | 21,000 | 125.65 | 2,638,692 |
| 4: 24 February 2012 | 22,000 | 128.38 | 2,824,272 |
| 5: 27 February 2012 | 125,000 | 125.64 | 15,704,875 |
| 6: 28 February 2012 | 24,500 | 126.58 | 3,101,259 |
| 7: 29 February 2012 | 17,000 | 129.46 | 2,200,871 |
| Accumulated for trading day 1-7 | 292,500 | 126.19 | 36,909,187 |
DSV's accumulated share buy-backs in the period from 21 February 2012 to 29 February 2012 thus total 292,500 numbers of shares at a total purchase sum of DKK 36.9 million.
As of today, DSV A/S now holds a total of 4,775,150 shares of a nominal DKK 1 in DSV A/S corresponding to 2.51% of the total number of issued shares of 190,000,000.
The last announcement dated 21 February 2012 stated that DSV A/S held 2.60% of the company's share capital.
Any questions may be addressed to Flemming Ole Nielsen, Investor Relations Manager, tel. +45 43 20 30 40.
Yours sincerely,
DSV
Flemming Ole Nielsen
Investor Relations Manager
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