AB Šiaulių bankas new share buyback program approved
On April 30, 2025, the Management Board of AB Šiaulių bankas (the Bank), implementing the decision of the Bank's ordinary general meeting of shareholders of March 31, 2025, decided to approve the Bank's share (ISIN code LT0000102253) buyback program, the sole purpose of which is to reduce the Bank's capital.
The shares will be purchased by the Bank by placing orders on the Nasdaq Vilnius regulated market under the following conditions and schedule:
· the maximum purchase price per share shall not exceed the higher of the following prices:
o the last independent trading price and
o the highest independent bid price for a specific transaction on the trading venue where the shares are acquired (Nasdaq Vilnius).
· Start of share buyback: May 5, 2025.
· End of share buyback: June 27, 2025.
· Share purchase schedule – up to 100,000 shares on each trading day of the regulated market.
· Maximum number of shares to be purchased during the program – 2,652,251 shares.
"Our commitment to our shareholders is to ensure a return of at least 20%, and we are continuing our active efforts to achieve this goal. We have again chosen to implement a share buyback program on the open market, as this method together increases the liquidity of the shares on the stock exchange," says Tomas Varenbergas, Member of the Bank's Management Board and Head of the Investment Management Division.
On the first business day of each calendar week, the Bank will publish information on the transactions carried out during the previous calendar week.
This share buyback program will be carried out in accordance with the "safe harbor" requirements set out in Article 5 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council on market abuse, Commission Delegated Regulation (EU) No. 2016/1052 of the European Commission supplementing Regulation (EU) No. 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards on conditions for buy-back programs and stabilization measures, Articles 2-4, and other applicable legal provisions.
On August 15, 2024, the Bank received permission from the European Central Bank (ECB) to repurchase up to 13,745,114 of its own shares, of which the Bank has already acquired 11,092,863.
Additional information:
Tomas Varenbergas
Head of Investment Management
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