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Šiaulių Bankas Announces Share Buybacks

Written by Customer Service on . Posted in Public Companies.

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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