SmartCraft ASA (OB:SMCRT) commences an Equity Buyback Plan for 8,576,115 shares, representing 5% of its issued share capital, under the authorization approved on November 2, 2022.
November 11, 2022 at 03:38 pm IST
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SmartCraft ASA (OB:SMCRT) commences share repurchases on November 3, 2022 under the program mandated by the shareholders in the Annual General Meeting held on November 2, 2022. As per the mandate, the company is authorized to repurchase up to 8,576,115 shares, representing 5% of its issued share capital. The maximum amount which can be paid for each share is NOK 50 and the minimum is NOK 1. The purpose of the share buy-back program is to obtain treasury shares for potential future settlement of the Company's long-term management investment program for the executive management and other key employees, to optimize the company's capital structure and/or for settlement of transactions. The authorization is valid until the company's annual general meeting in 2023 or June 30, 2023, whichever is earlier. As of October 11, 2022, the company had 171,522,305 shares issued.
On November 2, 2022, the company announced a share repurchase program. Under the program, the company will repurchase 3,430,446 shares, representing 2% of its issued share capital, for NOK 85 million. The maximum price to be paid per share under the program is NOK 25. The repurchases will commence on November 3, 2022 and will continue until the day before the Issuer's Annual General Meeting in 2023, or until the maximum number of shares have been repurchased.
Smartcraft ASA is a Norway-based provider of software solutions and digital tools for craftsmen and the construction industry. The Company delivers Software as a Service (SaaS) solutions to help craftsmen and construction companies become more efficient and profitable as well as to simplify their businesses. Smartcraftâs solutions include cable dimensioning, project management for small and medium sized businesses, Quality and Safety as well as EL-VIS solutions, that offer tools and templates for electricians. The Company has several subsidiaries, including SmartCraft Sweden AB, Homerunbynet Oy, SmartCraft Norway AS and Kvalitetskontroll AS. Smartcraft ASA has 14 offices across Norway, Sweden and Finland.
SmartCraft ASA (OB: SMCRT) commences an Equity Buyback Plan for 8,576,115 shares, representing 5% of its issued share capital, under the authorization approved on November 2, 2022.
SMARTCRAFT ASA 
