Completion of share buy back offer

Reference is made to the notice issued on 30 August 2021, where Otello Corporation ASA launched an offer to all shareholders to buy back up to 12,450,000 shares, through a book building process.

The Company has today bought 12,450,000 shares in the Company at a price of NOK 33.00 per share. Otello was offered 41,770,904 shares at the clearing price and thus allocated approximately 29.8% to shareholders which tendered at NOK 33.00 and below. 

Following the transaction, Otello Corporation ASA owns 12,450,000­­­ shares in the Company.

The Board will call for an EGM and propose that the balance of treasury shares to be cancelled and will simultaneously ask for a new mandate to buy back shares.

Petter Lade, CFO
Phone: +47 91143878
E-mail: petterl@otellocorp.com