LINK Mobility Group Holding initiates share repurchase program
Oslo, Norway, 11 March 2024. LINK Mobility Holding ASA ("LINK Mobility" or the "Company") (OSE: LINK) has authorized a share repurchase program that allows the Company to repurchase up to 17 million of its outstanding shares. The Company is not obligated to repurchase any shares under the program. The program will be conducted during the period from 11 March 2024 until 29 May 2024. LINK Mobility may, however, at any time suspend or terminate the program.
The share repurchase program has been resolved by the Board of Directors of LINK Mobility and is in accordance with the authorization granted to the Board by the Annual General Meeting of LINK Mobility on 31 May 2023.
In furtherance of the program, LINK Mobility announces today that it has put in place an agreement with Arctic Securities AS ("Arctic") for the repurchase of the Company's shares in open market transactions on the Oslo Stock Exchange. Under this agreement, Arctic will make its own trading decisions independently of, and uninfluenced by, LINK Mobility.
In order to comply with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and Commission Delegated Regulation (EU) No 2016/1052 (collectively the "Safe Harbour Rules"), the Company has provided the following required information: (i) under the repurchase program, as may be effected under the Arctic agreement, the Company may repurchase shares of an value up to NOK 400 million during the period from 11 March 2024 until 29 May 2024 (subject also to a maximum limit of 17 million shares), (ii) the maximum number of shares to be repurchased any trading day is 381,052 shares, corresponding to 25% of the average daily trading volume on the OSE during the month of February, being the month preceding the month of this disclosure, and (iii) the purpose of the repurchase program is to meet obligations arising from share option programs to employees and members of the administrative, management or supervisory bodies of LINK Mobility. The Company cannot predict how many shares will be repurchased, if any, under the agreement with Arctic, or the timing of any repurchase or the price that will be paid for any shares repurchased under the agreement.
The repurchase program will be completed in accordance with the Safe Harbour Rules as further set out in the Norwegian Securities Trading Act of 2007 and the Oslo Stock Exchange's Guidelines for buy-back programs and price stabilization.
For further information, please contact
Tom Rogn, VP Investor Relations
+47 94 85 56 59
tom.rogn@linkmobility.com
About LINK Mobility
LINK is an award-winning, leading global provider of mobile messaging and communications platform as a service (CPaaS) solutions for increased engagement. The company serves enterprise, SME and government customers. LINK offers a wide range of innovative and scalable mobile solutions, creating valuable digital convergence between businesses and customers, governments and citizens, platforms and users. LINK has 50 thousand active customer accounts globally and exchanges 17 billion messages a year. LINK is listed on the Oslo Stock Exchange under the ticker LINK. For more information about LINK, please see www.linkmobility.com and follow LINK Mobility on LinkedIn.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act and article 5 of the European Market Abuse Regulation.