Initiation of share repurchase program
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 28, 2022.
The share repurchase program will be for a maximum consideration of NOK 100 million, and for a maximum of 800,000 shares. The program will commence on October 26 and continue until December 31, 2022 or until the maximum number of shares has 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 140. Shares repurchased under the program will be used to fulfill the company's obligations under its share-based compensation agreements. 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 September, the calendar month preceding the month in which the buy-back program is announced. This limit is in accordance with Market Abuse Regulation (MAR) requirements as described in Article 3 of the EU Commission delegated regulation 2016/1052, and as implemented in Norway under the Securities Trading Act.
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
Atea is the leading supplier of IT infrastructure in the Nordic and Baltic regions. Atea is present in 85 cities with nearly 8,000 employees in Norway, Sweden, Denmark, Finland, Lithuania, Latvia and Estonia. Atea delivers hardware and software from leading global vendors, and provides consulting and technical services to support its customers with the design, implementation and operation of their IT environments. Atea had gross sales of approximately NOK 41 billion (EUR 4.1 billion) in 2021 and is listed on Oslo Stock Exchange. www.atea.com