On 30 October 2024, the Management Board of Šiaulių Bankas AB (hereinafter referred to as the "Bank"), implementing the decision of the Bank's Ordinary General Meeting of Shareholders on 29 March 2024 regarding the acquisition of the Bank's own shares, decided to approve a share acquisition programme for the Bank (ISIN LT0000102253), the sole purpose of which is to reduce the Bank's capital.
The shares will be purchased by the Bank by placing orders on the Nasdaq Vilnius regulated market under the following terms and schedule:
- The maximum purchase price per share shall not exceed the higher of:
- the last independent trading price, or
- the highest independent bid price for a particular transaction on Nasdaq Vilnius, where the shares are purchased.
- Share purchase begins on 4 November 2024.
- Share purchase ends on 24 January 2025.
- Purchase schedule: up to 125,000 shares per trading day on the regulated market.
- The maximum number of shares to be acquired during the program is 6,875,000 units.
"We are prepared to begin buying back our own shares on the regulated market until 24 January. The Bank aims to purchase up to 125,000 of its own shares each trading day. The Bank's buy orders will be placed on the trading venue before or during the trading session and may be modified as needed. Upon completion of this buy-back program, we will determine the most efficient approach to continue repurchasing shares to enhance shareholder returns," says Tomas Varenbergas, Head of Investment Management Division of Šiaulių Bankas.
The bank will publish information on transactions completed in the previous calendar week on the first working day of each calendar week.
This share buy-back program will be carried out in compliance with the safe harbour requirements set out in Article 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council on market abuse, as well as Articles 2 to 4 of Commission Delegated Regulation (EU) No 2016/1052, which supplements Regulation (EU) No 596/2014 with regulatory technical standards on conditions applicable to repurchase programs and stabilization measures, and in accordance with other applicable legal provisions.
On 15 August 2024, the Bank received permission from the European Central Bank (ECB) to buy back up to 13,745,114 of its own shares. The Bank has already purchased 6 million shares under this authorization during the share buy-back event held from 11 to 18 October 2024.
Additional information:
Tomas Varenbergas
Head of Investment Management Division
tomas.varenbergas@sb.lt
