OSLO, Norway, April 26, 2021 /PRNewswire/ -- Asetek today
announced the launch of a share buyback program. The share buyback
will be conducted under the safe harbor provisions of EU Regulation
2273/2003.
Section 3-12 of the Norwegian Securities Trading Act implements
the EU Commission Regulation (EC) No 2273/2003 on exemptions for
buy-back programs and stabilization of financial instruments in
Norwegian law. , Nor
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 April
22, 2021. Shares purchased under the program will be used to
cover Asetek's obligations under its employee stock option
programs.
The maximum consideration to be paid for shares acquired under
the buyback program is USD 3,000,000.
The maximum number of shares that can be acquired under the buyback
program is 237,100 shares. The buyback program will be initiated
today and be valid until September 02,
2021. Asetek may at any time without further notice close or
suspend the buyback program.
Asetek will not purchase shares at a price higher than the
higher of the price of the last independent trade and the highest
current independent bid on the trading venue where the purchase is
carried out. The maximum number of shares which may be purchased in
any one day is limited to 25% of the average weighted daily volume
of Asetek shares traded in the 20 trading days preceding the day of
purchase.
The share buyback program is managed and will be executed by SEB
on behalf of Asetek.
About Asetek
Asetek is the global leader in liquid cooling solutions for
gaming and enthusiast PCs, data centers and servers. Founded in
2000, Asetek is headquartered in Denmark and has operations in California, Texas, China
and Taiwan. Asetek is listed on
the Oslo Stock Exchange (ASTK.OL).
For further information, please contact:
Peter Dam Madsen, Chief Financial
Officer
Mobile: +45 2080 7200, e-mail: pdm@asetek.com
This information is considered inside information pursuant to
the EU Market Abuse Regulation and is subject to the disclosure
requirements pursuant to Section 5-12 the Norwegian Securities
Trading Act. This stock exchange release was published by
Peter Dam Madsen, CFO at Asetek A/S,
on April 26, 2021 at 08:30 CEST.
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SOURCE Asetek