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Oslo, 24 February 2022 - Adevinta ASA (“Adevinta” or the “Company”) has decided to initiate a buyback of up to 10 million of its own shares. The share buy-back programme will be structured into two tranches.
A first tranche of the buyback will be for up to 4 million shares, and will be made in accordance with the authorization granted to the Board of Directors by the Company’s General Meeting held on 29 June 2021. The authorisation is valid until the Ordinary General Meeting in 2022. The first tranche of the buyback will commence on 25 February 2022 and is expected to end no later than on June 28th 2022. In the first tranche, shares for up to around NOK 320m will be purchased. (According to the authorization, the minimum price that can be paid per share is NOK 20 and the maximum price is NOK 750.)
A second tranche of the buyback of up to 6 million shares will be launched subsequent to the 2022 AGM, and subject to renewal of the shareholder authorisation at the annual general meeting to be held on 29 June 2022. The second tranche is expected to end no later than January 31st, 2023.
The purpose of the buyback is to acquire shares to be used as settlement in the Company’s share-based incentive plans over the next 3 years. The shares shall be purchased on Oslo Børs. Adevinta is entering into a non-discretionary agreement with DNB Markets (part of DNB Bank ASA), to carry out the share buyback on behalf of the Company. DNB Markets will make its trading decisions independently of the Company.
The execution of any repurchases will depend on market conditions, the buyback programme may be discontinued at any time and the Company may resolve to terminate the buyback programme before the threshold set out above is reached.
The execution of further tranches of the share buy-back programme for 2022 will be notified to the market.
In the first tranche in 2022, shares will be purchased on the Oslo Stock Exchange. Transactions will be conducted in accordance with applicable safe harbour conditions, and as further set out i.a. in the Norwegian Securities Trading Act of 2007, EU Commission Regulation (EC) No 2016/1052 and the Oslo Stock Exchange's Guidelines for buy-back programmes and price stabilisation February 2021.
This is information that Adevinta is obliged to make public pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
Adevinta owns 654,736 shares in the Company as of today.
For further information, please contact Investor Relations:
About Adevinta ASA
Adevinta is a leading online classifieds specialist, operating digital marketplaces in 15 countries. The company provides technology-based services to connect buyers with sellers and to facilitate transactions, from real estate to motors, and consumer goods.
Adevinta’s portfolio spans more than 40 digital brands, covering one billion people and attracting approximately three billion average monthly visits. Leading brands include top-ranked leboncoin in France, Germany's leading classifieds sites mobile.de and eBay Kleinanzeigen, Marktplaats in the Netherlands, fotocasa and InfoJobs in Spain, and 50% of fast-growing OLX Brasil. Adevinta employs around 7,500 people committed to supporting users and customers daily. Find out more at Adevinta.com.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
The buyback and the distribution of this announcement and other information in connection therewith may be restricted by law in certain jurisdictions, and the buyback is not made in any jurisdiction in which this would be unlawful, require registration or other measures. The Company does not assume any responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.
The buyback is not being made directly or indirectly in, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of, or any facilities of a national securities exchange of, the United States of America, its territories and possessions, any State of the United States and the District of Columbia (the "United States") or any other jurisdiction in which this would be unlawful. This includes, but is not limited to, facsimile
transmission, internet delivery, e-mail, telex and telephones. Accordingly, copies of this release and any related documents are not being, and must not be, mailed, e-mailed or otherwise distributed or sent in or into the United States and so doing may invalidate any purported sales offer.