The Board of Directors of Nordic Semiconductor ASA has resolved to initiate a share buyback program to be executed in accordance with the authorization granted to the Board of Directors by the Annual General Meeting of Nordic Semiconductor held on May 5, 2025 (the “AGM").
Reference is made to the stock exchange announcement by Nordic Semiconductor ASA ("Nordic" or "the Company") on June 24, 2025, regarding Nordic’s acquisition of Memfault Inc. As part of the acquisition, the three founders of Memfault - CEO Francois Baldassari, CTO Chris Coleman and VP Developer Experience Tyler Hoffman – will reinvest 30% of their share sale proceeds in Nordic Semiconductor shares, totaling approximately USD 13 million. The purpose of the program is for delivery of such shares to the founders of Memfault Inc.
The share buyback program will commence on July 2, 2025, and end no later than July 31, 2025. Pursuant to the share buyback program, the Company will buy back up to 1,003,634 shares for a maximum amount of NOK 351,271,900. No shares may be bought at a price higher than the greater of the share price of the latest independent trade or the highest current independent offer price at Oslo Børs at the time of the trade. Additionally, the maximum number of shares that may be purchased on each trading day will not exceed 25% of the average daily trading volume of the Company for that day.
Nordic has engaged DNB Carnegie, a part of DNB Bank ASA, to manage and carry out the share repurchases in the market. DNB Carnegie will make its trading decisions independently of, and uninfluenced by Nordic.
The Company reserves the right to make subsequent changes to the above terms for the program and will in such case make appropriate announcements in this respect.
For further information, please contact:
Pål Elstad, CFO
Phone: +47 991 66 293
Ståle “Steel” Ytterdal, SVP IR
Phone: +47 930 37 430
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.