On August 29th Nekkar announced its decision to initiate a share buy-back program. The share buy-back program has been executed in accordance with the authorization granted to the Board of Directors by the Annual General Meeting of Nekkar held on May 30, 2023. The program has and will be used for corporate purposes in accordance with the above-mentioned authorization. The share buy-back program covers purchase of up to 10,742,711 shares, and the maximum amount of the program was NOK 80 million. The share buy-back program commenced on August 31st, 2023, and concluded on May 29th, 2024, when the authorization expired at the Annual General Meeting held on May 30, 2024. During this meeting, the Board of Directors received a new authorization to buy back shares up to 10% of the face value of the company's share capital. Until the new Board of Directors convenes, the share buy-back program will be on hold.
The share buy-back program has been managed by Pareto Securities, which has made its trading decisions regarding the timing of the share repurchases independently of, without influence by, and without access to sensitive information concerning, Nekkar.
During week 22 of 2024, Nekkar purchased 19,865 own shares at an average price of NOK 9.2207 per share. Following this and subsequent use in the previously announced employee share program, Nekkar holds a total of 2,066,621 own shares, corresponding to 1.924 percent of the shares in the company.
Below is a more detailed overview of the transactions carried out under the buy-back program.
DateNumber of sharesAverage price (NOK)Total transaction value (NOK)27/05/20244,1949.210538,628.8428/05/20246,6719.2640
61,800.14
29/05/20249,0009.193382,739.70Previously announced buy-backs under the program2,725,4748.9959224,518,134.98Total buy-back made under the program2,745,3398.99754
24,701,303.66
Appendix: For a comprehensive overview of all transactions conducted under the buy-back program during the beforementioned time frame, we have attached an appendix to this report