Investor Presentaiton
62
A.P. Moller-Maersk Annual Report 2020
Directors' Report Governance
Shareholder information
=1
The decision to initiate a new share buy-back pro-
gramme is supported by the strong earnings and
free cash flow generation seen in 2020, which
has led to further deleveraging of the company
and improved credit metrics in line with invest-
ment grade rating.
The new programme is in alignment with previously
announced intention to distribute a material part
of the value of shares received in Total S.A. (value
USD 4.5bn) as part of the sale of Maersk Oil, sub-
ject to maintaining investment grade rating. With
the announced new share buy-back programme
the total distribution from the sale of the shares in
Total S.A. will be around USD 3.4bn or around 75%
of the initial value of the shares received.
The share buy-back is carried out with the
purpose to adjust the capital structure of
A.P. Moller-Maersk. Shares which are not used
for hedging purposes for the long-term incentive
programmes will be proposed cancelled at the
Annual General Meetings in 2021 and 2022.
No shares may be bought back at a price exceed-
ing the higher of i) share price of latest independ-
ent trade, and ii) the highest current independent
bid at Nasdaq Copenhagen at the time of trading.
The maximum number of A and B shares that may
be purchased on each trading day may not exceed
25% of the average daily trading volume of A and
B shares, respectively, on Nasdaq Copenhagen or
other regulated markets, on which the purchase is
carried out over the last 20 trading days prior to
the date of purchase.
A and B shares will be acquired in a 20/80 split
reflecting the current trading volumes of the two
share classes.
The company will fulfil its reporting obligations
by announcing no later than every 7th trading day
the purchases made under the share buy-back
programme.
A.P. Møller Holding A/S has committed to partici-
pating in the share buy-back programme by selling
shares relative to its voting rights and relative to
its total ownership in the company. A.P. Møller
Holding A/S intends to maintain its ownership of
51.45% of A shares and 41.51% of the total share
capital in the company.
The company is entitled to suspend or stop the
programme at any time subject to an announce-
ment to Nasdaq Copenhagen.
Annual General Meeting
The Annual General Meeting will be held on
23 March 2021 in Copenhagen, Denmark.
FROM OUR BUSINESS MODEL
Shareholders with more than 5% of share capital or votes
Shareholders according to section 55 of the Danish Companies Act are
Share capital
Votes
40.29%
50.88%
A.P. Møller Holding A/S, Copenhagen, Denmark
A.P. Møller og Hustru Chastine Mc-Kinney Møllers Familiefond,
Copenhagen, Denmark
Den A.P. Møllerske Støttefond, Copenhagen, Denmark
In our transformation to become
the global integrator of container
logistics, we continue to innovate
and grow shareholder value.
MAERSK
MAERSK
Investor Relations
9.18%
13.31%
3.23%
6.07%
To keep investors and analysts updated on the
company's strategic development, market outlook
and financial performance, A.P. Moller-Maersk
arranges road-shows and participates in investor
and industry conferences. Investor Relations,
besides meeting domestic investors, also travels
extensively to ensure that international investors
are kept updated on the latest developments. In the
vast majority of 2020, these meetings have been
online due to restrictions following the pandemic.
In 2020, the Executive Board and the Investor
Relations team had more than 500 meetings with
the participation of more than 1,200 investors and
analysts across Europe, Asia and North America.
A.P. Moller-Maersk is covered by around 30 sell-
side analysts, predominantly from international
investment banks, who regularly publish research
reports and sector reports. A list of the analysts
and other relevant information, including finan-
cial reports, investor presentations, share and
bond information, is available at http://investor.
maersk.com.View entire presentation