Sivers Semiconductors transfers 2,542,860 own shares
Kista, Sweden // 13 May 2024 // Sivers Semiconductors AB (STO: SIVE), today announces that the company has successfully transferred 2,542,860 ordinary shares at a price of SEK 5.26 per ordinary share, raising approximately SEK 13.4 million before transaction costs. All ordinary shares that have been transferred are currently held by the company, which means that no new shares have been issued.
The Annual General Meeting of Sivers Semiconductors AB on 25 May 2023 resolved to authorise the Board of Directors to, on one or more occasions during the period until the next Annual General Meeting, resolve on the transfer of own ordinary shares. The purpose of the transfers of own ordinary shares is to finance payment of social security contributions attributable to the company's incentive programme.
The purchase price has been determined by the Board of Directors of the company in consultation with Danske Bank A/S, Danmark, Sverige Filial following arms-length negotiations with the investors and corresponds to today’s closing price for the share at Nasdaq Stockholm. The company thereby receives approximately SEK 13.4 million before deduction of transaction costs. A number of Swedish institutional investors acquired shares in the company in connection with the transfer.
“The proceeds from the sale correspond to the company's costs for social security contributions in recent years in connection with the company's incentive programme. All costs have been charged to the results for previous reporting periods. Since the costs have already been incurred, the sale of own shares strengthens the company's cash position”, says Anders Storm, Group CEO of Sivers Semiconductors.
For more information please contact:
Anders Storm, Group CEO of Sivers Semiconductors
Tel: +46 70 262 6390
E-mail: anders.storm@sivers-semiconductors.com
Sivers Semiconductors AB (SIVE.ST) is a leader in SATCOM, 5G, 6G, Photonics, and Silicon Photonics that drives innovation in global communications and sensor technology. Our business units, Photonics and Wireless, supply cutting-edge, integrated chips and modules critical for high-performance gigabit wireless and optical networks. Catering to a broad spectrum of industries from telecommunication to aerospace, we fulfill the increasing demand for computational speed and AI application performance, replacing electric with optical connections for a more sustainable world. Our wireless solutions are forging paths in advanced SATCOM/5G/6G systems, while our photonics expertise is revolutionizing custom semiconductor photonic devices for optical networks and optical sensing, making us a trusted partner to Fortune 100 companies as well as emerging unicorns. With innovation at our core, Sivers Semiconductors is committed to delivering bespoke, high-performance solutions for a better-connected and safer world. Discover our passion for perfection at www.sivers-semiconductors.com