Pandora begins £459m share buyback programme
Pandora has commenced a DKK4.0bn (£459m) share buyback programme to reduce its share capital and to meet obligations arising from company incentive programmes.
Under the programme, Pandora will repurchase shares until 31 January 2025 at the latest.
The jewellery retailer has already appointed BNP Paribas as a sole lead manager for the first tranche of up to DKK 1.3bn (£149m) commenced on 8 February 2024.
Under the current authorisation to acquire treasury shares, Pandora can acquire up to 10% of the existing nominal share capital.
The shares will be purchased on Nasdaq Copenhagen (XCSE) and Multilateral Trading Facilities, including Cboe DXE (CEUX), Turquoise Europe (TQEX) and Aquis (AQEU).
The maximum number of shares to be bought per daily market session will be the equivalent to 25% of the average daily volume of shares in the company on the trading venue on which the purchase is carried out during the preceding 20 trading days.