Implementation of share buy-back programme

Nasdaq Copenhagen
London Stock Exchange
Other stakeholders

                                                                                                                             14 November 2018

Implementation of share buy-back programme

The extraordinary general meeting held on 7 June 2018 authorised the bank’s board of directors to buy shares for up to DKK 300 million, for cancellation at a future general meeting.

Shares for the equivalent of DKK 150 million have already been purchased. The bank’s board of directors has decided to exercise its authority to use the remaining DKK 150 million of the sum authorised to buy the bank’s own shares via a buy-back programme.

The share buy-back programme runs from 15 November 2018 up to and including 20 February 2019. During this period the bank will buy its own shares for up to DKK 150 million under the programme, but to a maximum of 900,000 shares.

The programme will be implemented in compliance with EU Commission Regulation 596/2014 of 16 April 2014 and EU Commission Delegated Regulation 2016/1052 of 8 March 2016, which together constitute the Safe Harbour regulation.

The bank may suspend or stop the buy-back of shares at any time, in which event a company announcement will be issued.

The conditions for the share buy-back programme are as follows:

• The purpose of the share buy-back is to adjust the bank’s capital structure in accordance with the authorisation adopted at the bank’s extraordinary general meeting on 7 June 2018.
   
• Ringkjøbing Landbobank has entered into a contract with Danske Bank under which Danske Bank will act as lead manager of the programme. Danske Bank will make all trading decisions independently and without influence from Ringkjøbing Landbobank and will purchase shares within the published limits. 
   
• The maximum amount that Ringkjøbing Landbobank may pay for shares purchased under the programme is DKK 150 million, while a maximum limit of 900,000 shares may be acquired. 
   
• Shares may not be purchased at a price exceeding the higher of (i) the price of the latest independent transaction; and (ii) the highest bid from an independent buyer 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.
   
• Ringkjøbing Landbobank will announce the number of purchased shares, as well as their value, on a weekly basis in a separate announcement to Nasdaq Copenhagen, both in an aggregated and a detailed form.

Yours sincerely,

Ringkjøbing Landbobank

John Fisker
CEO

Attachment

• Share buy-back programme 2018 3 implementation