Initiation of share repurchase programme

Company announcement
for ROCKWOOL A/S
Release no. 02 – 2024
to Nasdaq Copenhagen        

8 February 2024

Initiation of share repurchase programme

As stated in the 2023 Annual Report, ROCKWOOL Group has decided to launch a share repurchase programme of up to 160 MEUR.

Today, ROCKWOOL has initiated the share repurchase programme which will run from 8 February 2024 until 7 February 2025. During this period, the Company will buy own shares for up to a maximum of 160 MEUR.

The programme is implemented in accordance with EU Commission Regulation No 596/2014 of 16 April 2014 and EU Commission Delegated Regulation No 2016/1052 of 8 March 2016, which together constitute the “Safe Harbour” regulation.

The Company may at any time suspend or stop the share repurchase. If so, this will be announced in a company announcement.

The terms of the share repurchase programme are as follows:

• ROCKWOOL has engaged Danske Bank as lead manager of the share repurchase programme. Danske Bank will independently and without influence from ROCKWOOL make its trading decisions and execute share purchases within the published framework.
  
  
• The amount that ROCKWOOL can pay for shares purchased under the programme is 160 MEUR, with a maximum monthly amount of 20 MEUR.
  
  
• The purchase may not be made at a share price that exceeds the highest of (i) the share price of the most recent independent trade; or (ii) the highest independent buyer’s bid in the Nasdaq Copenhagen market at the time of trading.
  
  
• The maximum number of shares that can be purchased in a single trading day will be 25 percent of the average daily share trading volume during the 20 preceding trading days at Nasdaq Copenhagen.
  
  
• The repurchase comprises B shares only. The maximum number of shares that may be acquired under the programme is 1 200 000 B shares.
  
  
• ROCKWOOL will publish a separate company announcement to Nasdaq Copenhagen on a weekly basis announcing the number of shares repurchased and their value, including detailed information on the individual trades.
  
  
• The Board of Directors will propose at the Annual General Meeting in 2025 that the shares repurchased under the programme will be cancelled as part of a reduction of the Company’s share capital.
  
  
• The repurchase is conducted pursuant to the authorisation granted by the Annual General Meeting to the Board of Directors on 29 March 2023 expiring on the upcoming general meeting in 2024. The Board of Directors will propose a renewal of the authorisation to enable the repurchase to continue in accordance with the above after the general meeting.
  
  

Further information:        

Kim Junge Andersen
Chief Financial Officer
ROCKWOOL A/S
[phone]

Attachment

• SE-2024-02_EN