SmartCraft ASA (SMCRT) re-initiates share buy-back programme
5 November 2024 – SmartCraft has decided to re-initiate a Company share buy-back programme. The buy-back programme will be conducted in accordance with the authorization granted to the board of directors by the Company's Annual General Meeting held on 2 May 2024.
The share buy-back programme will be for a maximum consideration of NOK 20 million. The repurchases will be conducted in the period from 5 November 2024 until the day before the issuer's Annual General Meeting in 2025, or until the maximum consideration have been reached. Buy-back transactions will be executed according to the market price on the Oslo Stock Exchange, and the maximum price to be paid per share under the program is NOK 33.
The purpose of the share buy-back programme is to obtain treasury shares for potential future settlement of the Company's long-term management investment program for the executive management and other key employees, to optimize the company's capital structure and/or for settlement of transactions.
The program will be managed by Carnegie AS, which will make its trading decisions in relation to the acquisition of shares independently of, and uninfluenced by, the Company. SmartCraft will report its purchases every seventh trading day.
The transactions will be conducted in accordance with the Market Abuse Regulation (EU) No 596/2014 (MAR), Commission Delegated Rules (EU) 2016/1052 ("Safe Harbour Regulation) and Euronext Oslo Børs' Guidelines for buyback programmes and stabilisation dated February 2021.
DISCLOSURE REGULATION
This information is published in accordance with the requirements in article 5 of the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
CONTACTS
* Kjartan Bø, CFO, +47 410 27 000, kjartan.bo@smartcraft.com
ABOUT SMARCRAFT
SmartCraft is the leading Nordic provider of mission-critical SaaS solutions to SMEs in the construction sector, increasing their productivity, margins, and resource efficiency. The Group currently has more than 13 300 customers and 260 employees distributed across Norway, Sweden, Finland and UK. SmartCraft was listed on the Oslo Stock Exchange in June 2021.