The Board of Directors of Freetrailer Group A/S ("Freetrailer") has decided to exercise the authorisation granted by the Annual General Meeting on 27 November 2023 to repurchase treasury shares. The share repurchase programme covers shares for an aggregate amount of up to DKK 20 million.
The programme will run from 31 August 2026 up to and including 31 December 2026. The share repurchase programme is initiated and structured in compliance with the EU Market Abuse Regulation and EU Commission Regulation No. 596/2014 of 16 April 2014.
Conditions for the share repurchase programme
The purpose of the programme is to optimise the capital structure of the company and to build a position of own shares to ensure sufficient shares to settle on-going and future warrant programmes and allow the company to structure potential future acquisitions in the most efficient and flexible way
As such, Freetrailer does not expect to cancel the acquired shares following the completion of the repurchase programme.
Freetrailer will enter into a contract with a financial adviser which will independently of and without influence from Freetrailer handle all purchase decisions and execute the purchases within the framework published. Freetrailer has appointed ABG Sundal Collier as financial adviser and lead manager for the programme.
The shares cannot be purchased at prices exceeding the higher of (i) the price of the latest independent trade and (ii) the price of the highest independent bid on Spotlight Stock Market 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 Spotlight Stock Market.
Freetrailer will publish the amount of shares repurchased as well as the weighted average price per day and per venue in weekly corporate announcements during the programme.
Freetrailer may initiate a new share repurchase programme if the value of the repurchased shares does not amount to DKK 20 million. The timing of such a programme will depend on a number of factors, which will be evaluated once the announced programme is completed no later than 31 december 2026.
Comment from Group CEO Thomas Zeihlund:
"We have reached a point where our financial strength gives us greater flexibility, and we need to use that flexibility with discipline. The share repurchase programme is not an alternative to investing in Freetrailer's growth, we will continue to invest in our markets, our platform and the development of the business.
For me, good capital allocation is about making the choices that create the greatest value for Freetrailer over time. At the same time, the programme gives us the flexibility we need in relation to our warrant programmes and potential future acquisitions. It is a natural next step as the business grows and our financial foundation becomes stronger."