Adevinta ASA (ADE) – Initiation of a share buyback
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES.
Oslo, 3 March 2020 - Adevinta ASA ("Adevinta" or the "Company") has decided to initiate a buyback of up to 1,700,000 of its own shares. The shares are to be used as settlement in the Company’s share-based incentive schemes as well as employee share saving plans.
The buybacks will be made in accordance with the authorization granted to the Board of Directors by the Company’s General Meeting held on 5 May 2020. As stated in the authorisation, shares shall be purchased at a minimum of NOK 20 and a maximum of NOK 750 per share. The authorisation is valid until the Ordinary General Meeting in 2021.
The buyback will commence following this announcement and is expected to end no later than on 2 April 2020. The shares shall be purchased on Oslo Børs. Adevinta has engaged DNB Markets, a part of DNB Bank ASA, to carry out the share buyback on behalf 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.
Adevinta does not own shares in the Company as of today.
For further information, please contact Investor Relations:
Marie De Scorbiac
About Adevinta ASA
Adevinta is a global online classifieds specialist, operating digital marketplaces in 11 countries. The company provides technology-based services to connect buyers with sellers and to facilitate transactions, from job offers to real estate, cars, consumer goods and more. Adevinta’s portfolio includes more than 30 digital products and websites, attracting 1.3 billion average monthly visits. Leading brands include top-ranked leboncoin in France, InfoJobs and Milanuncios in Spain, and 50% of fast-growing OLX Brazil. Adevinta spun off from Schibsted ASA and publicly listed in Oslo, Norway in 2019. Adevinta is majority owned by Schibsted ASA and employs 4,700 people committed to supporting users and customers daily. Find out more at Adevinta.com.
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.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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