DFDS — Transaction in Own Shares 2014

Aug 21, 2014

Copenhagen, 2014-08-21 07:49 CEST (GLOBE NEWSWIRE) -- Announcement no. 59

• Excess cash to be distributed to shareholders in accordance with company
policy for capital structure and distribution
• New share buy-back of DKK 200m to be launched beginning of September 2014
after completion of the current programme

DFDS will launch a new share buy-back programme of DKK 200m under the Safe
Harbour regulation after the expected completion of the current programme at
the beginning of September 2014.

The purpose of the new programme is to align DFDS’ financial leverage to the
policy target by distribution of cash to shareholders through a buy-back and
cancellation of shares. DFDS’ capital structure target is a NIBD/EBITDA
multiple of minimum 2.0 and maximum 3.0.

DFDS’ NIBD/EBITDA multiple was 1.8 at the end of Q2 2014 and the current
outlook on earnings and investments indicate financial leverage below the 2.0
target multiple for the full-year 2014.

The new programme will run from the date of publishing of the remaining details
of the programme (including the appointment of a manager) until 30 June 2015.
The maximum number of shares which can be bought under the new share buy-back
programme will be 850,000 shares. Further details of the new programme will be
announced at its launch in September 2014 and prior to the start of any trade.

Contact persons:
Niels Smedegaard, CEO
+45 33 42 34 00

Torben Carlsen, CFO
+45 33 42 32 01

Søren Brøndholt Nielsen, IR
+45 33 42 33 59