Notification of managers’ and closely related parties’ transactions with Dampskibsselskabet NORDEN A/S’ shares in connection with share buy-back program

Dampskibsselskabet NORDEN A/S on 17 December 2025 (Announcement No. 267) notified the market of managers’ and closely related parties’ transactions in connection with its ongoing share buy-back program, stating that A/S Motortramp is continuously selling shares pro rata as the program is executed; the notice refers to prior announcements 227/2025 and 228/2025 and includes an attached file with transaction details. This disclosure, signed by CFO Martin Badsted, confirms continued implementation of the buy-back and related-party trading activity that may affect free float and liquidity.

Analysis

Dampskibsselskabet NORDEN A/S issued Announcement No. 267 on 17 December 2025 to notify the market of managers’ and closely related parties’ transactions in connection with its ongoing share buy-back program, stating that A/S Motortramp is continuously selling shares pro rata and referring to prior notices 227/2025 and 228/2025 and an attached transaction file. The disclosure is signed by CFO Martin Badsted and provides an IR contact (Therese Möllevinge) for further details.

The notice confirms continued execution of the buy-back program while simultaneously recording related-party sales, a combination that directly affects reported supply and could influence near-term free float and intraday liquidity depending on disclosed volumes. External signals flag neutral sentiment and a low market-impact score (0.15), indicating the announcement alone is unlikely to move the market materially absent substantive transaction sizes in the attachment.

The summary does not include transaction amounts or net buyback magnitude; the attached file and the referenced announcements are therefore necessary to assess the program’s net demand effect and any governance or insider-transaction implications for valuation and trading strategy.

Key Decisions for Investors

• Obtain and review the attached transaction file and announcements 227/2025 and 228/2025 to quantify the volumes, timing and net effect of A/S Motortramp’s sales relative to the buy-back
• If disclosed transaction volumes are material, consider managing execution exposure by trimming positions or using limit orders given potential short-term liquidity compression from related-party selling
• Avoid initiating large directional trades based solely on this notice given neutral sentiment and a low market-impact signal; re-evaluate positions once the transaction-level data clarify the program’s net supply/demand impact