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. 261, 10 Dec 2025) disclosed that A/S Motortramp, a manager/closely related party, is continuously selling its NORDEN shares pro rata in connection with the company’s announced share buy-back program and the market has been informed; the notice refers investors to the attached transaction file and prior announcements nos. 227/2025 and 228/2025 for details. This is a regulatory insider/related‑party transaction disclosure that affects ownership composition and should be reviewed for volumes and timing to assess any near‑term impact on free float and share supply.

Analysis

Announcement No. 261 (10 December 2025) states that A/S Motortramp, identified as a manager/closely related party, is continuously selling Dampskibsselskabet NORDEN A/S shares pro rata in connection with the company’s announced share buy‑back program and refers investors to an attached transaction file and prior notices nos. 227/2025 and 228/2025 for details. The disclosure is signed by CFO Martin Badsted with an investor relations contact provided, signaling a formal regulatory insider transaction report. This is a material ownership composition disclosure that can affect immediate share supply and intraday liquidity depending on the sizes and timing of the reported trades. Market signals included with the article give a neutral sentiment and a low market impact score (0.15), suggesting limited price effect unless the transaction volumes are sizeable; therefore the attached filings are required to assess net buyback versus related‑party sell dynamics.

Key implications are that transparency and compliance obligations are being met, but the net effect on free float and capital‑return efficacy depends on whether company repurchases offset these related‑party sales. Investors should watch subsequent transaction detail and execution cadence to determine whether the buy‑back program reduces outstanding shares or is effectively neutralized by manager sales. Any investment response should be driven by the quantitative volumes and timing disclosed in the referenced files rather than this initial notice alone.

Key Decisions for Investors

• Obtain and review the attached transaction file and announcements 227/2025 and 228/2025 to quantify volumes, timing and whether the buy‑back program nets out A/S Motortramp sales
• If filings show buybacks materially exceed related‑party sales, consider modestly increasing exposure; if sales exceed buybacks or reveal sustained supply, consider trimming positions or implementing hedges
• Monitor follow‑up disclosures and intraday trade prints for changes in liquidity and set tight risk limits until net supply impact is confirmed