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 announced (Announcement No. 262, 11 Dec 2025) that, in connection with its previously disclosed share buy-back program (see announcements 227/2025 and 228/2025), A/S Motortramp is continuously selling shares pro rata and the market is being informed of these managers’ and closely related parties’ transactions; the notice is signed by CFO Martin Badsted and directs market participants to the attached filing and investor-relations contact for further information.

Analysis

Dampskibsselskabet NORDEN A/S published Announcement No. 262 on 11 December 2025 confirming that, in connection with its previously disclosed share buy-back program (see announcements 227/2025 and 228/2025), A/S Motortramp is continuously selling shares pro rata; the notice is signed by CFO Martin Badsted and directs readers to an attached filing and investor-relations contact for further information. The company framed the activity as a disclosure of managers’ and closely related parties’ transactions tied to the buy-back program rather than as a new capital-return policy change.

Market signals attached to the release indicate a neutral sentiment score (0.0) and a low market-impact score (0.15), while the thematic classification highlights Capital Returns, Insider Transactions and Management & Governance. The combination of an ongoing buy-back program and related-party sales increases transparency risk management but suggests limited immediate price disruption given the low impact score; the continuous, pro rata nature of the sales implies steady execution rather than episodic large blocks that typically move markets.

For investors the relevant considerations are execution and net supply: the share-buyback could be supportive of the share price if the program’s purchases exceed related-party disposals, but that net impact is not disclosed here and requires monitoring of subsequent filings. Investors should therefore track cumulative buy-back volumes, any aggregate insider selling totals reported in the attached filings and future announcements to assess whether the program is reducing free float or being offset by these pro rata sales.

Key Decisions for Investors

• Monitor subsequent filings and announcements (including the attached file and announcements 227/2025 and 228/2025) for cumulative buy‑back volumes and aggregate related‑party selling totals
• Maintain exposure only after confirming the buy‑back’s net effect on free float and share supply—consider modest add if purchases materially exceed related‑party sales and price shows supportive technicals
• Set alerts for further managers’ and related‑party transactions and for abnormal volume or price moves so you can hedge or trim positions if net selling increases or buy‑back execution slows