Wirtek initiates minor share buy-back programme

Company announcement no. 10/2023
28 June 2023

The board of directors has decided to exercise an authorization to buy back own shares in Wirtek A/S. The authorization was granted by the Annual General Meeting on 19 April 2023 and covers up to a maximum of approximately 770.000 shares.

Purpose

The share buyback programme is initiated to cover the remaining shares needed as part of the Earn-out shares-based payment to the sellers of the CoreBuild companies. The companies were acquired in 2021 and the final price has been established with the conclusion of the earn-out programme.

Time frame

The programme will run from 28-06-2023 and ends on or before 30 September 2023.

Buyback terms

• The number of shares to be acquired is up to a total of 60,000 shares, corresponding to 0.78% of the total number of outstanding shares.
• The maximum monetary value of the share buy-back program has been established at DKKm 1.0.
• The maximum daily number of shares that may be purchased as part of this share buy-back program may not exceed 25% of the average daily trading volume during the 20 trading days preceding the purchase.
• The shares may not be purchased at a price deviating by more than 5% of the most recently quoted market price at the time of purchase. 
• The shares under this buyback programme may only be purchased on the Nasdaq First North Growth Market.
• The buy-back will be conducted in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and Commission Delegated Regulation (EU) 2016/1052, also referred to as the Safe Harbour rules.

Instructions to Michael Aaen to conduct the share buy back in accordance with the Safe Harbour Rules

The maximum number of shares that may be purchased on any day for the duration of the program is calculated as the total average daily volume 20 trading days before the purchase.  This number needs to be recalculated before the first daily bid is entered into the market.    

The shares shall be bought on the Nasdaq First North trading platform and no OTC trading can happen as part of this program (reference 1).

Wirtek shall not set the highest purchase price on the Nasdaq First North trading platform at any time. Reasonable and good effort shall be taken to ensure that in the event Wirtek’s bid is the highest on the trading platform such bid is amended and/or removed as soon as possible. Wirtek may however set a bid that corresponds to the highest bid at any specific time.

No shares are to be bought if any insider lists are active.

No shares can be sold by Wirtek as part of this programme.

No bids from Wirtek may be given in the daily auction periods of the Nasdaq First North trading platform.

Shares being bought as part of the plan is reported using the Danish Financial authorities OASM system and a Company message is published in the market on a weekly basis. The message to the market should include a table outlining the daily trading for each individual day, the number of shares bought back at the time of reporting, the average transaction price and the amount spent on trading.

All individual transaction shall be made available on the company website for at least a 5-year period from the date of the disclosure.

To allow the public to follow the transactions over time the following table for each 7-day trading period should be made available as part of the company announcement. 

Example for first reporting:

Example of next reportings:

Reference to rules:

1. COMMISSION DELEGATED REGULATION (EU) 2016/1052 of 8 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the conditions applicable to buy-back programmes and stabilisation measures.

Further information

• Michael Aaen, CEO, Wirtek A/S, Phone: +45 2529 7575, E-mail: ir@wirtek.com
  Niels Jernes Vej 10, 9220 Aalborg Ø, www.wirtek.com
• Kent Mousten Sørensen, Chairman, Wirtek A/S, Phone: +45 2125 9001
• Per Vestergaard, Certified Advisor, CDI Global, Phone: +45 2176 4317

About Wirtek

Wirtek A/S is a Danish IT consultancy company that provides software development, testing, and consultancy services to help clients worldwide. With a team of more than 200 talented professionals, Wirtek specializes in Digitalization, Energy, Workforce & Facility Management, Wireless Communication & Automation, and Trade & E-commerce.

At Wirtek, we prioritize building long-term client relationships, with some lasting over a decade. We believe that quality partnerships are just as important as software quality in achieving our client's goals. Established in 2001, we have offices in Denmark and Romania and have been listed on Nasdaq First North Copenhagen since 2006. 

Ticker Code: WIRTEK (DK0060040913)