Genmab Announces Initiation of Share Buy-Back Program

On June 17, 2022 Genmab A/S (Nasdaq: GMAB) reported that it is initiating a share buy-back program to mitigate dilution from warrant exercises and honor our commitments under our Restricted Stock Unit program (Press release, Genmab, JUN 17, 2022, View Source [SID1234616068]). The share buy-back program will be undertaken on the terms set out below and in accordance with Regulation (EU) No. 596/2014 (‘MAR’) and the Commission Delegated Regulation (EU) 2016/1052, also referred to as the "Safe Harbour Regulation."

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Purpose
The purpose of the share buy-back program is to mitigate dilution caused by warrant exercises and to honor our commitments under the Restricted Stock Unit program.

Time frame
The share buy-back program will start on June 20, 2022 and end on August 31, 2022 (unless Genmab terminates or suspends the program).

Terms
Genmab has appointed Danske Bank as lead manager for the share buy-back program. Danske Bank will make its own trading decisions and act independently of and without influence or involvement from Genmab. Under this share buy-back program Genmab may repurchase up to 370,000 shares.

Shares acquired under the program cannot be purchased at a price exceeding the higher of (i) the price of the latest independent transaction on Nasdaq Copenhagen and (ii) the price of the highest independent bid on Nasdaq Copenhagen 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 Nasdaq Copenhagen.

As of June 17, 2022, Genmab holds 233,885 treasury shares equal to 0.36 % of the share capital.

Genmab is entitled to suspend or stop the program at any time subject to announcement to Nasdaq Copenhagen.

Upon initiation of the program, Genmab will issue a weekly announcement in respect of transactions made under the program.