A.P. Møller – Mærsk A/S (the “Company”) has decided to initiate a share buy-back program of up to DKK 14.4 billion (around USD 2 billion) to be executed over a period of 12 months.
The first phase of the share buy-back program will run from 7 February up to 6 August 2025. The shares to be acquired will be limited to a total market value of DKK 7.2 billion (around USD 1 billion). A maximum of 325,000 A shares and 1,900,000 B shares can be acquired in the first phase of the share buy-back program.
The share buy-back program will be executed under EU Commission Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052 (the “Safe Harbour Regulation”) which ensures that the Company, its Board of Directors and its Executive Board, are protected against violation of insider legislation during the share buy-back period.
The share buy-back program is initiated pursuant to the authorisation granted to the Board of Directors by the Annual General Meeting in March 2023, which entitled the Company to acquire treasury shares at a nominal value not exceeding 15% of the share capital at the market price applicable at the time of acquisition with a deviation of up to 10%.
The Company has appointed Skandinaviska Enskilda Banken (“SEB”) as Lead Manager for the first phase of the share buy-back. SEB will make its own trading decisions independently of and without influence from the Company and within the announced limits.
Prior to the first phase of the share buy-back program, the Company holds 119,982 B shares.
Mærsk stasted that the purpose of the program is to adjust the capital structure of the Company ultimately through cancellation of shares repurchased.