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 (Announcement No. 265, 15 Dec 2025) notified the market that, in connection with its ongoing share buy‑back program, A/S Motortramp is continuously selling NORDEN shares pro rata and that the trades are being disclosed in line with prior announcements (nos. 227/2025 and 228/2025). The notice, signed by CFO Martin Badsted, is a routine managers’ and closely related parties’ transaction disclosure; no financial figures were provided and investor relations contact details were included for follow‑up.

Analysis

Dampskibsselskabet NORDEN A/S published Announcement No. 265 on 15 December 2025 stating that, in connection with its ongoing share buy-back program, A/S Motortramp is continuously selling NORDEN shares pro rata and that these trades are being disclosed in line with earlier notices (Announcements Nos. 227/2025 and 228/2025). The notice is signed by CFO Martin Badsted and includes investor relations contact details, but it provides no price, volume or timetable figures to quantify the transactions.

The filing is a routine managers’ and closely related parties’ transaction disclosure and the provided signals classify sentiment as neutral with a low market impact score (0.15), implying limited immediate price effect absent material volumes or further detail. Continuous selling by a closely related party concurrent with a buy-back program likely reflects execution mechanics or reallocation, but the announcement itself does not disclose motivation or net buy-back magnitude.

The company’s timely disclosure supports governance standards, however key determinants for investor valuation impact—aggregate repurchases, execution timeline and the status/scale of A/S Motortramp’s holdings—remain unspecified. Investors should therefore monitor the referenced announcements and forthcoming transaction reports to assess the net effect on free float, EPS and potential price support before altering position sizes.

Key Decisions for Investors

• Monitor Announcements Nos. 227/2025 and 228/2025 and any subsequent transaction-level filings to determine volumes, timing and the net effect of buy-backs versus related-party sales
• Avoid making trading decisions based solely on this notice given neutral sentiment and a low market impact score; wait for quantitative disclosure of repurchased shares and execution schedule
• Existing holders should track cumulative buy-back completion and free-float changes for potential EPS/share upside before increasing exposure
• Contact investor relations (details provided in the announcement) if position size warrants clarification on A/S Motortramp's status and the mechanics of the continuous sales