Photocure ASA: Initiation of a share buyback
Oslo, Norway, 19 December 2024: The Company has decided to initiate a buyback of up to 300,000 of its own shares for a total maximum amount of NOK 30 million. The buyback program may be carried out in the period from this announcement and until 31 March 2025.
The buybacks will be made in accordance with the authorisation granted to the board of directors by the Company`s annual general meeting held on 23 May 2024 (the "Authorisation") and in accordance with the principles of the Market Abuse Regulation (EU) No 596/2014 and Commission Delegated Regulation (EU) No. 2016/1052 regarding exemptions from market manipulation, insider trading, and the disclosure of inside information for share repurchase programs.
The purpose of the program is to fulfill obligations arising in accordance with Photocure's long term incentive programs and the Company`s guidelines for remuneration as approved by Photocure`s annual general meeting held on 23 May 2024, or otherwise as decided in accordance with the Authorisation. The Company considers the shares to represent an attractive value at current levels.
According to the Authorisation, the Company`s own shares may be purchased at a minimum of NOK 0.50 and a maximum of NOK 250 per share. The Authorisation is valid until the annual general meeting in 2025, and no later than 30 June 2025.
The Company has engaged DNB Markets, a part of DNB Bank ASA (“DNB Markets”), to manage and carry out the share buyback program. All acquisitions under the buyback program will be executed on Euronext Oslo Børs by DNB Markets, independently of the Company. The execution of any repurchases may be discontinued at any time and the Company may resolve to terminate the buyback program before the threshold set out above is reached.
Photocure owns 15,122 own shares in the Company as of the date of this Announcement. As of 19 December 2024, the Company has not acquired any shares pursuant to the Authorisation.
For further information, please contact:
Dan Schneider
President and CEO
Photocure ASA
Email: ds@photocure.com
Erik Dahl
CFO
Photocure ASA
Tel: +4745055000
Email: ed@photocure.com
About Photocure ASA
Photocure: The Bladder Cancer Company delivers transformative solutions to improve the lives of bladder cancer patients. Our unique technology, making cancer cells glow bright pink, has led to better health outcomes for patients worldwide. Photocure is headquartered in Oslo, Norway, and listed on the Oslo Stock Exchange (OSE: PHO). For more information, please visit us at www.photocure.com and www.cysview.com. All trademarks mentioned in this release are protected by law and are registered trademarks of Photocure ASA.
All trademarks mentioned in this release are protected by law and are registered trademarks of Photocure ASA.
This information is made public by Photocure ASA pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.