What is the expected timing and execution pace of the buyback, and how might it affect the stock's liquidity and price in the short term?

Timing and execution pace – Bang & Olufsen’s announcement on 15 August 2025 indicates a “share‑buy‑back programme” that is being used to hedge its long‑term incentive plans under the EU Safe‑Harbour Regulation. In practice, such programmes are rarely executed as a single block; they are rolled out in a phased manner to stay within the EU‑mandated daily and aggregate limits (usually ≤ 0.5‑1 % of the average daily volume per day and ≤ 5 % of the free‑float over a 12‑month period). Given the lack of a disclosed size, a prudent assumption is that the company will aim to complete the programme within the next 6‑12 months, with a relatively steady, volume‑driven pace rather than an aggressive “one‑off” push.

Liquidity and short‑term price impact – The buyback will incrementally remove shares from the market, which should tighten the free‑float and provide a modest floor under the price. In the near term we can expect occasional spikes in trading volume on days the company executes a tranche, often accompanied by a short‑term price bump (typically 1‑3 % on execution days). Because the sentiment score is only modestly positive (30) and the market is likely pricing the announcement as a defensive hedge rather than a growth catalyst, the effect will be a gradual improvement in price support rather than a sharp rally. Traders can look for buying opportunities on pull‑backs to the 20‑day moving average or on the low‑volume days between tranches, while keeping an eye on SEC/EFSA filings that will reveal the exact tranche size and schedule—these disclosures often trigger micro‑spikes in both liquidity and price.