Extension of share buy-back program of up to 20 mEUR
On 24 June 2024 Better Collective initiated a share buy-back program for up to 20 mEUR, to be executed during the period from 24 June 2024 to 5 September 2024. Better Collective has now extended the share buy-back program with certain amendments.
Regulatory release 42/2024
Reference is made to regulatory release no. 28/2024 pursuant to which Better Collective announced the initiation of a share buy-back program for up to 6,187,519 shares and for an amount of up to 20 mEUR (or the equivalent in DKK or SEK), and which was set to expire on 5 September 2024.
Better Collective’s Board of Directors has today resolved to extend the buy-back program so that execution of the buy-back program will take place until and including 27th of November 2024.
The buy-back program remains subject to the same terms as announced in regulatory release no. 28/2024 with the following modifications:
- The purpose of the program is to cover potential future obligations relating to acquisitions and long-term incentive (LTI) programs as well as potentially optimizing and improving the capital structure of the company by reducing the capital.
- Execution of the buy-back program will take place until and including 27th of November 2024 but may close before in the event that shares for an amount of 20 mEUR (or the equivalent in DKK or SEK) have been purchased prior to the end date. There is currently approximately 9 mEUR left to buy of the 20 mEUR.
Moreover, Nordea Bank Abp has replaced ABG Sundal Collier as lead manager of the buy-back program. Under the agreement with Nordea, Nordea will purchase shares on behalf of the Company and will make its trading decisions independently of, and without influence by, the Company.