SmartCraft ASA initiates share buy-back programme
SmartCraft ASA | Additional regulated information required to be disclosed under the laws of a member state
2 November 2022 - SmartCraft ASA (the "Company") (Ticker: SMCRT NO) has decided to initiate a 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 Extraordinary General Meeting held on 2 November 2022.
The share buy-back programme will be for up to 2% of the share capital of the Company (3,430,446 shares), and for a maximum consideration of NOK 85 million. The repurchases will be conducted in the period from 3 November 2022 until the day before the Issuer’s Annual General Meeting in 2023, or until the maximum number of shares have been repurchased. Buyback 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 25.
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.
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
Tel: +47 410 27 000