Šiaulių Bankas Announces Share Buybacks
24 Enero 2024 - 8:00AM
Šiaulių Bankas Announces Share Buybacks
On 24 January 2024, the Management Board of AB Šiaulių Bankas
(hereinafter - the Bank), implementing the decision of the Bank's
Ordinary General Meeting of Shareholders on the acquisition of the
Bank's own shares (No.6; 31 March 2023) decided to buyback
1,250,000 shares of the Bank (ISIN code LT0000102253). The buyback
is intended to maintain and increase the value of the Bank.
Shares will be purchased on the Nasdaq Vilnius tender offer
market on 25 - 29 January 2024 with a settlement day on 30 January
2024. The acquisition price per share is 0.72 EUR.
"We are initiating our first buyback of own
shares in order to maintain and increase the value of the Bank. It
is a common market practise to repurchase shares when their market
price, in the opinion of the Bank's Board, is lower than the Bank
is worth or when there are reasonable expectations of growth
prospects. We plan to actively use this instrument in the future,"
said Tomas Varenbergas, Head of the Investment Management Division
of the Bank.
On 16 November 2023 the Bank received
authorisation from the European Central Bank (ECB) to buyback its
own shares.
Additional information: Tomas Varenbergas Head of Investment
Management Division tomas.varenbergas@sb.lt
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