Magnora ASA (“Magnora”) has decided to initiate a share buyback program. The buyback program will be carried out by market purchases in accordance with the authorization granted by the annual general meeting to the Board of Directors on 21 May 2019. Buyback transactions will be executed according to the market price on the Oslo Stock Exchange and the maximum consideration to be paid for shares acquired under the buyback program is NOK 8.5 per share and NOK 2.57 million in aggregate. The maximum number of shares that can be acquired under the program is 642 500 shares. The program will be initiated today and be valid until the next AGM in 2020 or latest 30 June 2020. Magnora may at any time without further notice close or suspend the program.
Shares purchased under the program will be used to reduce the number of outstanding shares or be used to cover obligations under any approved share option scheme.
The maximum number of shares which may be purchased in any one day is limited to 50% of the average weighted daily volume of Magnora shares traded in the 20 trading days preceding the day of purchase.
The share buyback program is managed and will be executed by Skandinaviska Enskilda Banken on behalf of Magnora.
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For more information please contact:
Erik Sneve, CEO, Magnora ASA
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.