Scandinavian Tobacco Group A/S: Completion of share buy-back programme

Company Announcement
No. 13/2023


Copenhagen, 1 March 2023

Completion of share buy-back programme

Scandinavian Tobacco Group A/S has now completed its share buyback programme which was initiated on 9 March 2022, and which was increased on 19 May 2022 to an aggregated value of up to DKK 1,000 million. As of 28 February 2023, Scandinavian Tobacco Group has purchased a total of 6,114,093 shares with an aggregated transaction value of DKK 775 million.

The purpose of the programme has been to adjust the Company’s capital structure and meet obligations relating to the Group’s share-based incentive programme. At the Annual General Meeting on 13 April 2023, the Board of Directors intends to propose a reduction of the company’s share capital as result of the share buy-back.

Part of the buy-back programme has been executed in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (the “Market Abuse Regulation”) and Commission Delegated Regulation (EU) 2016/1052, also referred to as the Safe Har-bour rules. Another part of the share buy-back programme has been executed as a pro-rata participation by Chr. Augustinus Fabrikker Aktieselskab and C.W. Obel A/S, respectively. Reference is made to company announcement no. 35 of 19 May 2022.

The following transactions have been executed from 27 February to 28 February 2023:

 Number of sharesAverage
purchase price, DKK
Transaction value, DKK
Accumulated, last announcement6,071,011  770,065,372
Total, 27 February – 28 February 202326,065122.993,205,650
Bought from CAF, 28 February 2023*11,632122.991,430,582
Bought from CWO, 28 February 2023*5,385122.99662,284
Accumulated under the programme6,114,093 775,363,888

*According to separate agreements as from 20 May 2022 Chr. Augustinus Fabrikker Aktieselskab (CAF) participates on a 27.0% pro-rata basis and C.W.Obel A/S (CWO) participates on a 12.5% pro-rata basis to the shares purchased in the share buy-back programme.

A detailed overview of transactions during the period 27 February – 28 February 2023 is attached to this announcement.

Following the above transactions Scandinavian Tobacco Group A/S owns a total of 6,560,155 treasury shares, corresponding to 7.05% of the total share capital.

For further information, please contact:
Torben Sand, Head of Investor Relations,
phone: +45 5084 7222 or