Vitrolife launches share buybacks to secure incentive program

Rhea-AI Summary

Vitrolife AB has announced a share buyback program authorized by the Annual General Meeting on April 28, 2021. The program, aimed at securing obligations related to the LTIP 2021, will run from July 15 to August 31, 2021. Up to 52,568 shares can be repurchased at market prices, with payment in cash. Currently, Vitrolife does not hold any own shares.

Positive

• Share buyback program may enhance shareholder value.
• Program initiated to fulfill obligations related to long-term incentive program.

Negative

• No significant current share repurchase inventory.

GÖTEBORG, Sweden, July 14, 2021 /PRNewswire/ -- The Board of Directors of Vitrolife AB (publ) ("Vitrolife") has, empowered by an authorization given by the Annual General meeting on 28 April 2021, resolved to initiate a share buyback program. The purpose of the program is to secure the obligations of the company (including social security contributions) relating to the long-term incentive program LTIP 2021.

The acquisition of shares shall take place on a regulated market or a market corresponding to a regulated market outside the European Economic Area and shall be managed by an investment firm or a credit institution which makes its trading decisions in relation to the company's shares independently of, and without influence by, the company in accordance with the EU Market Abuse Regulation (596/2014), the EU Commission's delegated Regulation (2016/1052) and the applicable rules of Nasdaq's Nordic Main Market Rulebook for Issuers of Shares. The buyback program will run between 15 July and 31 August 2021.

The buybacks will be done on the following terms:
1. The maximum number of shares that can be repurchased is 52.568.
2. Acquisition of shares may be made at a price per share within the recorded interval, i.e. the interval between the highest buying price and the lowest selling price.
3. Payment shall be made in cash.

Vitrolife currently does not hold any own shares.

Gothenburg, July 14, 2021
VITROLIFE AB (publ)
Thomas Axelsson, CEO

CONTACT:

Queries should be addressed to:
Thomas Axelsson, CEO, tel 46 31 721 80 01
Mikael Engblom, CFO, tel 46 31 721 80 14

The information was submitted for publication, through the agency of the contact person set out above, at 6.00 pm CET on July 14, 2021.

This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/vitrolife-ab--publ-/r/vitrolife-launches-share-buybacks-to-secure-incentive-program,c3385167

The following files are available for download:

https://mb.cision.com/Main/1031/3385167/1445008.pdf

Share buybacks

View original content:https://www.prnewswire.com/news-releases/vitrolife-launches-share-buybacks-to-secure-incentive-program-301333960.html

SOURCE Vitrolife AB (publ)

FAQ

What is the purpose of Vitrolife's share buyback program?

The share buyback program is aimed at securing obligations related to the long-term incentive program LTIP 2021.

When will Vitrolife's share buyback program take place?

The share buyback will run from July 15 to August 31, 2021.

How many shares can Vitrolife buy back in the program?

Vitrolife can repurchase up to 52,568 shares during the buyback program.

What is the maximum price for shares in the buyback program?

Shares will be acquired at market prices within the recorded buying and selling price interval.

What is the expected impact of the buyback on VTRLY's stock price?

While the impact can vary, buybacks typically aim to improve shareholder value and may lead to positive price movements.