Enento Group Plc | Stock Exchange Release | February 09, 2024 at 12:05:00 EET
The Board of Directors of Enento Group Plc has today decided to launch a share buyback program of up to EUR 2 million under the authorization of the Annual General Meeting.
The maximum number of shares to be repurchased under the program is 100,000 which represents approximately 0.42% of the company’s total number of shares. The program will commence at the earliest on 12 February 2024 and end no later than 22 April 2024. The purpose of the share buyback program is to optimize Enento’s capital structure through reduction of capital. The repurchase of shares will reduce Enento’s unrestricted equity and the repurchased shares will be cancelled.
The repurchase of shares in public trading will be executed in accordance with the safe harbour arrangement of Article 5 of the EU Market Abuse Regulation, including but not limited to daily price and volume limits. The shares will be acquired through public trading on Nasdaq Helsinki.
Enento has appointed Nordea to execute the share buyback program in compliance with applicable price and volume limits as well as applicable terms. Enento has the option to suspend and terminate the program during the buyback period and will, in such case, issue a stock exchange release to this effect.
The Annual General Meeting, held on 28 March 2023, authorized the Board of Directors to resolve to repurchase a maximum of 1,500,000 of Enento’s own shares, representing approximately 6.24% of total number of shares on the day of the authorization. Following the completion of the previous buyback programs, there remains an authorization to repurchase up to 1,212,800 additional shares as per the directive given by the Annual General Meeting.
Helsinki, 9 February 2024
ENENTO GROUP PLC
Board of Directors