Zealand Pharma A/S – Transaction Under Share Repurchase Program
Zealand Pharma A/S announced on July 13, 2021, the continuation of its share repurchase program initiated on June 29, with a cap of DKK 32,070,896 to acquire up to 154,187 Danish common shares. The program, managed by Danske Bank A/S, is set to complete by July 29, 2021. Transactions since July 6, 2021, included the purchase of 36,000 shares at an average price of DKK 191.13, totaling DKK 6,861,210. Zealand currently holds 149,223 treasury shares, equating to 0.34% of its total share capital of DKK 43,541,838.
- Initiation of a share repurchase program worth DKK 32,070,896, enhancing shareholder value.
- Acquisition of 36,000 shares strengthens earnings per share (EPS) potential.
- Correction in share capital reporting indicates previous miscommunication, potentially affecting investor confidence.
Company announcement – No. 46 / 2021
Zealand Pharma A/S – Transaction Under Share Repurchase Program
Copenhagen 13 July 2021 - On June 29, 2021, Zealand Pharma A/S ("Zealand") initiated a share repurchase program to acquire Danish common stock for incentive programs in accordance with Article 5 of Regulation No 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016.
Zealand has entered an arrangement with Danske Bank A/S to act as exclusive manager under the program. Danske Bank A/S will buy back shares on behalf of Zealand and make related trading decisions independently of and without influence by Zealand.
Under the program, Danske Bank A/S will buy back shares on behalf of Zealand for an amount up to DKK 32,070,896. The share repurchase program is expected to be completed no later than July 29, 2021 and comprises up to 154,187 shares.
Since the announcement dated 6 July 2021, the following transactions have been made:
| Number of shares | Average price (DKK) | Total value (DKK) | |
| Accumulated, last announcement | 49,000 | 185,07 | 9,068,340 |
| 6 July 2021 | 9,000 | 187.12 | 1,684,080 |
| 7 July 2021 | 5,000 | 196,67 | 983,350 |
| 8 July 2021 | 7,000 | 192,80 | 1,350,860 |
| 9 July 2021 | 7,000 | 189,64 | 1,327,480 |
| 12 July 2021 | 8,000 | 189,43 | 1,515,440 |
| Total | 36,000 | 191,13 | 6,861,210 |
| Accumulated under the program | 85,000 | 187.41 | 15,929,550 |
The details for each transaction made under the share repurchase program are included as an appendix to this announcement.
With the transactions stated above, Zealand owns a total of 149,223 shares with a nominal value of DKK 1 each as treasury shares, corresponding to 0.
Zealand notes that its announcement of 6 July 2021 incorrectly stated its share capital to be DKK 43,655,061.
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About Zealand Pharma A/S
Zealand Pharma A/S (Nasdaq: ZEAL) ("Zealand") is a biotechnology company focused on the discovery, development, and commercialization of innovative peptide-based medicines. More than 10 drug candidates invented by Zealand have advanced into clinical development, of which two have reached the market. Zealand’s robust pipeline of investigational medicines includes three candidates in late stage development. In the United States Zealand markets V-Go®, an all-in-one basal-bolus insulin delivery option for people with diabetes and Zegalogue® for the treatment of severe hypoglycemia in pediatric patients with diabetes aged 6 years and above. License collaborations with Boehringer Ingelheim and Alexion Pharmaceuticals create opportunity for more patients to potentially benefit from Zealand-invented peptide therapeutics.
Zealand was founded in 1998 in Copenhagen, Denmark, and has presence throughout the U.S. that includes key locations in New York, Boston, and Marlborough (MA). For more information about Zealand’s business and activities, please visit www.zealandpharma.com.
V-go® and Zegalouge® are registered trademarks of Zealand Pharma A/S
Forward-Looking Statement
The above information contains forward-looking statements that provide Zealand Pharma’s expectations or forecasts of future events. Such forward-looking statements are subject to risks, uncertainties and inaccurate assumptions, which may cause actual results to differ materially from expectations set forth herein and may cause any or all of such forward-looking statements to be incorrect. If any or all of such forward-looking statements prove to be incorrect, our actual results could differ materially and adversely from those anticipated or implied by such statements. All such forward-looking statements speak only as of the date of this release and are based on information available to Zealand Pharma as of the date of this release.
For further information, please contact:
| Zealand Pharma Investor Relations |
| Claudia Styslinger |
| Argot Partners |
| investors@zealandpharma.com |
| Zealand Pharma Media Relations |
| David Rosen |
| Argot Partners |
| media@zealandpharma.com |
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FAQ
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