Alm. Brand A/S (CPSE:ALMB) announces a share repurchase program. Under the program, the company will repurchase up to 154,000,000 shares, representing 9.9% of its issued share capital, for DKK 250 million of which DKK 200 million is intended for a share buyback program and DKK 50 million is intended for employee share programs. The shares may in no event be bought at a price deviating by more than 10% from the most recently quoted market price of the shares at the time of purchase and not at a price higher than the price of the last independent trade or higher than the current highest independent bid on the trading venue on which the purchase is carried out.

The purpose of the share buyback is to distribute earnings to shareholders and meet obligations relating to the Group?s employee share programs. At a General Meeting of Alm. Brand A/S, a resolution will be proposed that any shares not used for the employee programs will be cancelled. The program will be completed by August 30, 2024.