Nørresundby, Denmark, 24 November 2020
Announcement no. 38/2020
The Board of Directors of RTX A/S has decided to initiate a new share buy-back programme of up to DKK 50 million to be executed during the period 25 November 2020 to 30 September 2021.
The share buy-back programme is initiated pursuant to the authorization granted to the Board of Directors by the Annual General Meeting on 25 January 2018, which authorizes RTX to acquire treasury shares at a nominal value not exceeding 10% of the share capital.
The share buy-back is executed in accordance with the EU Market Abuse Regulation, EU Regulation no. 596/2014 of 16 April 2014 and EU Delegated Regulation 2016/1052 of 8 March 2016 (together referred to as the ”Safe Harbour Regulation”).
The purpose of the share buy-back programme is a continued adjustment of RTX’s capital structure and to meet the obligations arising from share-based remuneration programmes for employees.
The share buy-back programme will run from 25 November 2020 to 30 September 2021. Further, the lead manager for the share buy-back programme has been instructed that the programme cannot be completed prior to 15 September 2021 (unless RTX terminates or suspends the program) to facilitate a balanced execution of the programme.
RTX has appointed Danske Bank as lead manager for the share buy-back programme. Danske Bank will make its own trading decisions and act independently of and without influence or involvement from RTX.
Under this share buy-back programme RTX may repurchase shares up to a maximum amount of DKK 50 million, and no more than 500,000 shares, corresponding to 5.8% of the share capital of RTX A/S.
Shares acquired under the programme cannot be purchased at a price exceeding the higher of (i) the price of the latest independent transaction on Nasdaq Copenhagen and (ii) the price of the highest independent bid on Nasdaq Copenhagen at the time of the transaction.
The total number of shares that may be purchased on a single trading day may not exceed 25% of the average daily trading volume over the preceding 20 trading days on Nasdaq Copenhagen.
As of 24 November 2020, RTX holds 301,522 treasury shares of a nominal value of DKK 5, equal to 3.5% of the share capital.
RTX is entitled to suspend or stop the programme at any time subject to announcement to Nasdaq Copenhagen.
Upon initiation of the programme, RTX will issue a weekly announcement in respect of transactions made under the programme.
Questions and further information:
CEO Peter Røpke, tel: +45 96 32 23 00.
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