Repurchases of ordinary shares in Scandi Standard during 27 January – 2 February 2026

Scandi Standard repurchased 25,000 ordinary shares during 27 Jan–2 Feb 2026 for SEK 2,675,311 under a buy-back program announced 19 Dec 2025, bringing total repurchases under the program to 95,000 shares (SEK 9,645,875) since 23 Dec 2025. The program — executed on Nasdaq Stockholm by ABG Sundal Collier to hedge LTIP 2025 obligations — allows repurchases of up to 474,000 shares; Scandi Standard currently holds 715,141 own shares out of 66,060,890 outstanding. The transactions were conducted in accordance with MAR and the Safe Harbour Regulation and are modest in scale relative to the company’s share base.

Analysis

Market structure: The buyback is small but meaningful as tactical float support — Scandi Standard holds 715,141 shares (≈1.08% of 66.06M), and the program may repurchase up to 474,000 total (remaining capacity ≈379,000 or ≈0.57% of shares). Because purchases are explicitly to hedge LTIP 2025, the action reduces free float short‑term and signals management wants to cap dilution, not launch a broad capital‑return program, implying modest upward pressure on the SEK‑listed equity over weeks to months.

Risk assessment: Tail risks include avian disease or a sharp feed‑commodity spike (corn/soy) that rapidly compresses margins, and regulatory/insider‑timing scrutiny under MAR despite stated compliance. Immediate (days) effect is technical support; short term (weeks) depends on further buyback cadence and LTIP vesting; long term (quarters) fundamentals (volume, input costs) drive value more than a ~1–2% float change.

Trade implications: Best direct play is a modest long with option overlay — buy stock or construct call spreads to capture buyback‑driven drift while capping premium. Relative value: pair long Scandi Standard vs short a broadly diversified Nordic consumer conglomerate (e.g., Orkla, ORK.OL) to isolate buyback/tactical support vs sector cyclicality. Expect catalyst windows at next quarterly results, further buyback notices, and LTIP settlement dates.

Contrarian: Consensus may over‑read buybacks as permanent share repurchases; because purpose is LTIP hedging, net long‑term share count could rise when awards are settled, reversing short‑term support. The mispricing risk is in paying up >10% premium to recent buys (i.e., >120 SEK) — avoid chasing beyond the buyback price band.

Key Decisions for Investors

• Establish a 2–3% portfolio long position in Scandi Standard (Scandi Standard AB) on pullbacks to ≤105 SEK; target 130 SEK within 6–12 months (≈+20%); hard stop 95 SEK (≈‑9%).
• If you prefer options, buy a 6–9 month call spread: long 120 SEK call / short 160 SEK call to limit premium expenditure while keeping upside to 30–45% (adjust strikes to nearest available), position size = 1–2% portfolio delta equivalent.
• Pair trade: go long Scandi Standard (notional X) and short Orkla (ORK.OL) (notional X) for a market‑neutral exposure to buyback support vs sector exposure; rebalance after quarterly results or additional buyback announcements (monitor within 30–60 days).
• Avoid initiating new positions if price trades above 115–120 SEK without incremental buyback announcements or improved margin guidance; instead buy 3‑month 10% OTM puts as insurance if holding >3% position size.