Oslo, 30 August 2022 - Adevinta ASA (“Adevinta” or the “Company”) has decided to resume its share buyback programme in order to complete the second tranche of the buyback that was launched on 6 April 2022. This will result in a buyback of up to 1,778,756 of Adevinta’s own shares.
The second tranche of the buyback of up to 6 million shares was launched on 6 April 2022, in accordance with the authorization granted to the Board of Directors by the Company's General Meeting held on 29 June 2021. The authorization was valid until the Ordinary General Meeting in 2022.
The shareholder authorisation was renewed at the annual general meeting held on 29 June 2022. The Company is resuming the share buyback on this basis and expects to complete the buyback no later than 30 June, 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.
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 8,184,846 shares in the Company as of today.
Marie de Scorbiac
Head of Investor Relations
T: +33 (0) 6 84 30 52 76
Investor Relations Manager
Adevinta is a leading online classifieds specialist, operating digital marketplaces in 14 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, Subito in Italy, and 50% of fast-growing OLX Brasil. Adevinta employs around 8,100 people committed to supporting users and customers daily. Find out more at Adevinta.com.