Brief: Otello To Carry Out Share Buyback

Otello ASA

07/04/2021 07:38

April 7 (Reuters) - Otello Corporation ASA  OTELLO.OL :
    * SHARE BUY BACK PROGRAM
    * PLANS TO AGGRESSIVELY RETURN CASH TO SHAREHOLDERS WITH A
VIEW TO
DISTRIBUTING ALL EXCESS CASH TO OUR OWNERS
    * BOARD OF DIRECTORS OF OTELLO HAS THUS DECIDED TO CARRY OUT
A
SHARE BUYBACK PROGRAM OF UP TO 13,847,700 SHARES, CORRESPONDING
TO UP TO APPROXIMATELY 10% OF ISSUED SHARES IN COMPANY
    * SHARES PURCHASED THROUGH SHARE BUYBACK PROGRAM MAY BE USED
FOR
PROSPECTIVE REDUCTIONS OF SHARE CAPITAL AND TO FULFILL
OBLIGATIONS UNDER INCENTIVE SCHEMES APPROVED BY SHAREHOLDERS
    * AUTHORIZATION WILL BE EFFECTIVE FROM TODAY, 7 APRIL 2021
AND
ENDS AT LATEST ON DAY OF COMPANY'S ANNUAL GENERAL MEETING IN
2021

Source text for Eikon:  ID:nWkrcfDfYq 
Further company coverage:  OTELLO.OL 

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