LINK Mobility Group Holding initiates new share repurchase program
Oslo, Norway, 12 June 2024. With reference to the stock announcement by LINK Mobility Group Holding ASA ("LINK Mobility" or the "Company") (OSE: LINK) on 30 May 2024 regarding completion of the Company's share repurchase program as announced on 11 March 2024, the Company has authorized a new share repurchase program that allows the Company to repurchase an additional up to 8.69 million of its outstanding shares, totaling up to 17 million shares including the 8.31 million shares repurchased under the program completed on 30 May 2024. The new program will be conducted during the period from 12 June 2024 until the last day prior to the annual general meeting 2025, and in no event later than 29 June 2025. The Company is not obligated to repurchase any shares under the program. LINK Mobility may, however, at any time suspend or terminate the program.
The new 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 29 May 2024.
In furtherance of the program, LINK Mobility 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 230 million during the period from 12 June 2024 until the last day prior to the annual general meeting 2025, and in no event later than 29 June 2025 (subject also to a maximum limit of 8.69 million shares), (ii) the maximum number of shares to be repurchased on any trading day is 233,141 shares, corresponding to 25% of the average daily trading volume on the OSE during the month of May, 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 buyback 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 more than 50,000 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.