OSLO, Norway, Oct. 23, 2020 /PRNewswire/ -- Asetek today
announced the launch of a share buyback program. The share buyback
will be conducted under the safe harbour 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 stabilisation of financial instruments in
Norwegian law.
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 22
April 2020. 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 4,000,000.
The maximum number of shares that can be acquired under the buyback
program is 381,000 shares. The buyback program will be initiated
today and be valid until March 05,
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 (ASETEK.OL).
For further information, please contact:
Peter Dam Madsen, Chief Financial
Officer
Mobile: +45-2080-7200, e-mail: pdm@asetek.com
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SOURCE Asetek