Nordnet initiates share buyback program
The Board of Nordnet AB (publ) (”Nordnet”) has resolved to utilize the authorization by the Annual General Meeting on 29 April 2024 to repurchase own shares. The purpose of the repurchase is to return capital to shareholders and optimize the capital structure.
Repurchases may commence on 24 September 2024 and will end on 21 March 2025. The share repurchases will be executed by Citigroup who will make decisions regarding timing of repurchases independently of, and without influence by, Nordnet.
The share repurchase program will during this period amount to a maximum of SEK 500 million. Share repurchases may take place on one or more occasions and shall take place on Nasdaq Stockholm Stock Exchange in accordance with applicable rules. In accordance with the Swedish Companies Act, the company’s holding of own shares may never, upon any acquisition, exceed ten percent of the total number of shares in the company. The repurchases must be carried out at a price within the price range applicable at any given time, which means the interval between the highest purchase price and the lowest selling price. Payment for the shares will be made in cash. Reporting will take place via the stock exchange in accordance with the appropriate regulations. Repurchased shares are expected to be cancelled.
The total number of issued shares in Nordnet amounts to 251,534,101, of which Nordnet holds 375,000 own shares.
Information about the repurchases under the share buyback program is published weekly on www.nordnetab.com.
For further information, please contact:
Johan Tidestad, Chief Communications Officer, johan.tidestad@nordnet.se, +46 708 875 775
Marcus Lindberg, Head of Investor Relations, marcus.lindberg@nordnet.se, +46 764 923 128
Nordnet is a pan-Nordic leading digital platform for savings and investments. Through innovation, simplicity and transparency, we challenge traditional structures, and give private savers access to the same information, tools and services as professionals. Visit us at www.nordnetab.com, www.nordnet.se, www.nordnet.no, www.nordnet.dk or www.nordnet.fi.