Reference is made to the stock exchange notice from 20 June 2023 announcing a share buyback program for Otello Corporation ASA (the Company). From 9 October 2023 through 13 October 2023, Pareto Securities AS has bought 50,832 shares on the behalf of the Company at an average price of NOK 7,77 and a total value of NOK 394,937. Since the initiation of the share buyback program a total of 2,688,917 shares at an average price of NOK 8,73 and a total value of NOK 23,485,881 have been acquired. The maximum consideration to be paid for shares acquired under the buyback program is NOK 15 per share and the maximum number of shares that can be purchased is 4,554,986 shares (5% of total outstanding shares). At present date, Otello owns 2,688,917 treasury shares in the Company. The shares are purchased in accordance with the authorization granted at the company's annual general meeting on 1 June 2023.
Petter Lade, CFO
Phone: +47 91143878
E-mail: petterl@otellocorp.com