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Company Announcement
COPENHAGEN, Denmark; February 14, 2024 – Genmab A/S (NASDAQ:GMAB) announced today that it is initiating a share buy-back program to honor our commitments under our Restricted Stock Unit program. The share buy-back program will be undertaken on the terms set out below and in accordance with Regulation (EU) No. 596/2014 (‘MAR') and the Commission Delegated Regulation (EU) 2016/1052, also referred to as the "Safe Harbour Regulation."
Purpose
The purpose of the share buy-back program is to honor our commitments under the Restricted Stock Unit program.
Time frame
The share buy-back program will start on February 15, 2024, and end on March 15, 2024 (unless Genmab terminates or suspends the program).
Terms
Genmab has appointed Danske Bank as lead manager for the share buy-back program. Danske Bank will make its own trading decisions and act independently of and without influence or involvement from Genmab. Under this share buy-back program Genmab may repurchase up to 190,000 shares.
Shares acquired under the program 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 February 14, 2024, Genmab holds 735,891 treasury shares equal to 1.11% of the share capital.
Genmab is entitled to suspend or stop the program at any time subject to announcement to Nasdaq Copenhagen.
Upon initiation of the program, Genmab will issue a weekly announcement in respect of transactions made under the program.
Posted In: GMAB
