Company Announcement No. 454
On 27 April 2012, DSV initiated the previously announced share buy-back programme, cf. company announcement No. 450 of 27 April 2012. According to the programme DSV will in the period from 27 April to 30 July 2012 purchase own shares up to a maximum value of DKK 400,000,000 and no more than 4,000,000 shares, corresponding to 2.13% of the current share capital of DSV A/S. The programme has been implemented in accordance with the 'Safe Harbour' provisions of EU Regulation No. 2273/2003 of 22 December 2003. DSV will therefore publish the accumulated purchases under the share buy-back programme every 7th trading day.
| Trading day | Number of shares bought back | Average transaction price | Amount DKK |
| Accumulated for trading day 1-14 | 975,470 | 122.35 | 119,350,889 |
| 15: 22 May 2012 | 50,000 | 119.68 | 5,984,240 |
| 16: 23 May 2012 | 88,973 | 120.16 | 10,691,254 |
| 17: 24 May 2012 | 25,000 | 121.63 | 3,040,655 |
| 18: 25 May 2012 | 40,194 | 123.63 | 4,969,253 |
| 19: 29 May 2012 | 17,000 | 124.74 | 2,120,634 |
| 20: 30 May 2012 | 130,000 | 121.53 | 15,798,588 |
| 21: 31 May 2012 | 150,000 | 117.58 | 17,637,195 |
| Accumulated for trading days 1-21 | 1,476,637 | 121,62 | 179,592,708 |
DSV's accumulated share buy-backs in the period from 27 April 2012 to 31 May 2012 thus total 1,476,637 number of shares at a total purchase sum of DKK 179.6 million.
As at today, DSV A/S holds a total of 4,373,803 shares of a nominal value of DKK 1 in DSV A/S, corresponding to 2.33% of the total number of issued shares of 188,000,000.
The latest announcement dated 21 May 2012 stated that DSV A/S held 2.08% 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