The Board of Directors of Atea ASA has resolved to initiate a share repurchase program. The share repurchase program is in accordance with the power of attorney granted to the Board by the Annual General Meeting of Atea ASA on April 29, 2021.
The share repurchase program will be for a maximum consideration of NOK 160 million, and for a maximum of 860,000 shares. The program will commence on May 6 and continue until June 30, 2021. 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 200. Shares repurchased under the program will be used to fulfill the company’s obligations under its employee stock option agreements. The shares shall be purchased on the Oslo Stock Exchange. Atea will appoint a financial institution to carry out the share repurchase program.
The maximum number of shares purchased per day will be 25% of the average daily turnover in April 2021, the calendar month preceding the month in which the buy-back program is announced. This limit is in accordance with the “safe harbor” exemption for market abuse, as described in EU Commission delegated regulation 2016/1052 (Article 3), and as implemented in Norway under the Securities Trading Act Section 3-1.
For more information, please contact:
Steinar Sønsteby, CEO Atea ASA, mobile (+47) 930 55 655
Robert Giori, CFO Atea ASA, mobile (+47) 934 09 188
This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.