Better Collective initiates share buyback program of up to 10 mEUR
Better Collective initiates a share buyback program for up to 10 mEUR, to be executed during the period from February 22, 2023 to April 24, 2023. The purpose of the buyback program is to cover future payments relating to acquisitions and LTI programs.
Better Collective initiates a share buyback program
The buyback program is being initiated pursuant to the authorization granted by the shareholders at the annual general meeting held on April 26, 2022 to repurchase up to nominal 4,701,658 shares of EUR 0,01 each of the Company’s share capital in the period until the annual general meeting in 2023.
Better Collective has appointed ABG Sundal Collier (ABGSC) as lead manager of the buyback program. Under the agreement with ABGSC, ABGSC will purchase shares on behalf of the Company and will make its trading decisions independently of, and without influence by the Company.
To cover future payments
The purpose of the program is to partially cover the Company’s debt obligations related to completed acquisitions and LTI programs. Acquisition of shares shall take place on Nasdaq Stockholm in compliance with the Nordic Main Market Rulebook for Issuers of Shares.
The total purchases of own shares will be limited to a total market value of up to 10 mEUR. The maximum number of shares that can be bought is 4,701,658 shares of EUR 0,01 each. Execution of the buyback will take place from February 22, 2023 to April 24, 2023. Payment for the shares is to be made in cash.