Topdanmark A/S commences an Equity Buyback Plan for 891,709 shares, representing 0.99% of its issued share capital, under the authorization approved on April 26, 2023.
October 24, 2023 at 02:07 am EDT
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Topdanmark A/S (CPSE:TOP) commences share repurchases on October 24, 2023, under the program mandated by the Annual General Meeting held on April 26, 2023. As per the mandate, the company is authorized to repurchase up to 891,709 shares, representing 0.99% of its issued share capital, such that the company?s holding in treasury together with the shares repurchased does not exceed 2.5% of its issued share capital at any point of time. The shares shall be acquired at a minimum price of DKK 1.05 per DKK 1 share, and a maximum price of the market price plus 10%. The program is valid till April 26, 2028. As of April 3, 2023, the company had 90,000,000 shares issued of which 1,358,291 shares were in treasury.
On October 12, 2023, the share buyback program was approved by the Danish FSA.
Topdanmark A/S is a Denmark-based insurance company engaged in the insurance and pension fund business. The Companyâs activities are divided into such segments, as Personal, and SME (Small and Medium Enterprises) and Industrial. The Personal segment sells policies for individual households in Denmark. The SME and Industrial segment offers policies for Denmark-based SME, agricultural and industrial businesses. The Companyâs private insurance offering includes such insurance products, as home, vehicle, accident, pet, child and life and health insurance, as well as pension funds. Its corporate insurance offering includes property insurance, insurance of goods and equipment, and car insurance, among others. As of December 31, 2012, it had subsidiaries responsible for life and non-life insurance, as well as for asset management, investment and property-related activities.
Topdanmark A/S commences an Equity Buyback Plan for 891,709 shares, representing 0.99% of its issued share capital, under the authorization approved on April 26, 2023.
TOPDANMARK A/S 
