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 notified investors that, in connection with its announced share buy-back program, A/S Motortramp has been continuously selling shares pro rata and that managers’ and closely related parties’ transactions are being reported to the market (see announcements nos. 227/2025 and 228/2025). The disclosure confirms ongoing execution of the buy-back mechanics and is material for holders monitoring changes to free float and trading liquidity; investor-relations contact details were provided for further information.

Analysis

Dampskibsselskabet NORDEN A/S has notified the market that, in connection with its announced share buy-back program, A/S Motortramp is continuously selling shares pro rata and that managers’ and closely related parties’ transactions are being reported (see announcements nos. 227/2025 and 228/2025 and the attached file). The notice was issued by CFO Martin Badsted and provides investor-relations contact details for follow-up, indicating formal disclosure and transparency around execution mechanics.

The disclosure confirms active execution of the buy-back mechanics rather than a one-time block trade, which will directly affect free float and intraday liquidity depending on the relative pace of pro rata selling versus repurchases. The supplied sentiment and market-impact signals are neutral with a low market-impact score (0.12), suggesting the market may view this as operational detail rather than a material change to corporate strategy.

Investors should monitor subsequent transaction reports and the referenced announcements for quantities and timing to assess aggregate buy-back magnitude and net supply effect, and watch trading volumes and bid-ask spreads for early signs of altered liquidity. The report of managers’ and related-party trades reinforces governance transparency but does not, on its own, indicate a change in long-term fundamentals.

Key Decisions for Investors

• Monitor announcements nos. 227/2025 and 228/2025 and the attached file for transaction quantities and timing before adjusting exposure
• Track daily volume, net buy-back execution rates and bid-ask spreads to gauge whether free float and liquidity are being meaningfully altered
• Avoid making large portfolio moves on this notice alone; consider short-term hedges only if subsequent reports show persistent net selling that increases volatility