Better Collective initiates share buyback program of up to 10 mEUR
Better Collective A/S (the “Company”) initiates a share buyback program for up to 10 mEUR, to be executed during the period from July 7, 2023 to August 21, 2023. The purpose of the buyback program is to cover future payments relating to acquisitions and LTI programs.
Regulatory Release no. 32/2023
The buyback program is being initiated pursuant to the authorization granted by the shareholders at the annual general meeting held on April 25, 2023 to repurchase up to nominal 5,514,866 shares of EUR 0,01 each of the Company’s share capital in the period until the annual general meeting in 2024.
The Company has appointed ABG Sundal Collier (ABGSC) as lead manager of the buyback program. Under the agreement with ABGSC, ABGSC will purchase shares on behalf of the Company and will make its trading decisions independently of, and without influence by the Company.
The buyback program is subject to the following terms:
- The purpose of the program is to partially cover the Company’s debt obligations related to completed acquisitions and LTI programs.
- Acquisition of shares shall take place on Nasdaq Stockholm in compliance with the Nordic Main Market Rulebook for Issuers of Shares.
- The total purchases of own shares will be limited to a total market value of up to 10 mEUR.
- The maximum number of shares that can be bought is 5,514,866 shares of EUR 0,01 each.
- Execution of the buyback will take place from July 7, 2023 to August 21, 2023.
- Payment for the shares is to be made in cash.
