DFDS A/S commences an Equity Buyback Plan for 5,860,000 shares, representing 10% of its issued share capital, under the authorization approved on March 23, 2021.
August 17, 2021 at 01:59 am EDT
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DFDS A/S (CPSE:DFDS) commences a share repurchases in the second quarter of 2021, under the program mandated by the shareholders in the Annual General Meeting held on March 23, 2021. As per the mandate, the company is authorized to repurchase up to 5,860,000 shares for a nominal value of DKK 117.2 million, in such a way that the company’s total number of own shares cannot at any time exceed 10% of the company’s share capital. The price cannot deviate by more than 10% from the listed acquisition price on Nasdaq Copenhagen at the time of acquisition. The program will expire on March 23, 2025. As of February 23, 2021, the company had 58,631,578 share in outstanding.
Dfds AS is a Denmark-based integrated shipping and logistics company. The Companyâs operations are divided into two segments: Ferry Division and Logistics Division. The Ferry Division operates more than 20 ferry routes in the Northern Europe, including Baltic Sea, North Sea, Channel - and in Mediterranean between Turkey and Europe. The routes are a mix of pure freight routes (ro-ro), combined freight and passenger routes (ro-pax), as well as passenger routes. In addition, port terminals are owned and/or operated at strategic hubs of the route network, including Immingham, Rotterdam, Gothenburg, Istanbul and Trieste. The freight customers are mainly forwarders and hauliers, as well as manufacturers of heavy industrial goods. The Logistics Division includes mainly full-load transport solutions in corridors in the Northern Europe, as well as contract logistics solutions, including warehousing. Its customers are primarily manufacturers of industrial goods, consumables, and retailers.
DFDS A/S commences an Equity Buyback Plan for 5,860,000 shares, representing 10% of its issued share capital, under the authorization approved on March 23, 2021.
DFDS A/S 
