(2024-05-13) Kitron ASA initiates a share buyback in connection with
remuneration to the board members.
Kitron ASA ("Kitron" or the "Company") has decided to initiate a share buyback
program of up to 30,000 of its own shares for a total maximum amount of NOK
900,000. The buyback program may be carried out in the period from this
announcement and until 16 May 2024.
The share buyback program will be carried out in accordance with the EC
Commission Delegated Regulation (EU) No. 2016/1052 of 8 March 2016 regarding
exemptions from market manipulation for share programs. The purpose of the
buyback program is to acquire shares that can be used as part of the
remuneration to the board members for the period from and including May 2024 to
and including April 2025, as resolved by the annual general meeting on 25 April
2024.
The Company has engaged Norne Securities AS to carry out the share buybacks. The
share buybacks will be made in accordance with the authorisation granted to the
board of directors by the Company's annual general meeting held on 25 April
2024. According to the authorisation, up to 19,821,713 shares may be purchased
at a minimum of NOK 1 and a maximum of the prevailing market price per share on
the day the offer is made, provided, however, that the maximum amount does not
exceed NOK 100 per share. The authorisation is valid until the annual general
meeting in 2025, however no later than 30 June 2025.
All acquisitions under the buyback program will be executed on Euronext Oslo
Børs. The execution of any repurchases will depend on market conditions, the
buyback program may be discontinued at any time and the Company may resolve to
terminate the buyback program before the threshold set out above is reached.
Kitron does not hold any own shares in the Company as of the date of this
announcement.
For further information, please contact:
Cathrin Nylander, CFO, tel.: +47 900 43 284
E-mail: investorrelations@kitron.com
Kitron is a leading Scandinavian electronics manufacturing services company for
the Connectivity, Electrification, Industry, Medical devices and
Defence/Aerospace sectors. The group is located in Norway, Sweden,
Denmark,Lithuania, Germany, Poland, the Czech Republic, India, Malaysia, China
and the
United States. Kitron has about 2 800 employees, and revenues were EUR 775
million in 2023
www.kitron.com (http://www.kitron.com)
This information is made public by the Company pursuant to the EU market abuse
regulation article 5, as supplemented by Commission Delegated Regulation (EU)
2016/1052, and is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.
Oslo Børs (https://www.euronext.com/nb/markets/oslo)
Â