AS Ekspress Grupp commences an Equity Buyback Plan for 2,500,000 shares, under the authorization approved on May 2, 2023.
February 08, 2023 at 02:30 am EST
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AS Ekspress Grupp (TLSE:EEG1T) commences a share repurchase program on February 8, 2023, under the program mandated by shareholders in the Annual General Meeting held on May 2, 2022. As per the mandate, the company is authorized to repurchase up to 2,500,000 shares, whereby the total amount of the nominal value of the treasury shares owned by the company may not exceed 10% of its share capital. The minimum amount to be paid for its own shares shall be EUR 0.60 per share and the maximum amount per share shall be the closing price on the Nasdaq Tallinn Stock Exchange plus 20% but not more than EUR 1.90 per share at the trading day preceding the announcement of each respective buyback. The purpose of the share buyback is to use the attractive market conditions in order to create value for the shareholders. The shares bought back will thereafter be cancelled or used for other purposes like sale or use of shares for the option program. The repurchase program is valid for 12 months from the date of adoption of this decision.
On February 8, 2023, the company announced a share repurchase program. Under the program, the company will repurchase up to 588,235 shares for ?1 million. The shares will be repurchased at price of ?1.7 per share. The offer will commence on February 15, 2023 and will be valid till March 6, 2023.
Ekspress Grupp AS is an Estonia-based company that is principally engaged in the printing and publishing sector. The Company operates through three segments: Online media, Periodicals and Printing services. The Online media segment provides the administration of online classified portals and intermediation of Internet advertising services. The Periodicals segment is engaged in the publishing of newspaper, magazines, custom publications and books in Estonia and Lithuania. The Printing services segment provides printing and related services. It is active through its subsidiaries, joint ventures and associated companies, including UAB Ekspress Leidyba, UAB Adnet media, AS Express Post, AS Linnaleht and OU Hea Lugu, among others. The Company is active in Estonia, Latvia, Lithuania, the Russian Federation and Finland, among others.
AS EKSPRESS GRUPP 
