The Board of Directors (the "Board") of Otello Corporation ASA (the "Company") has decided to initiate a share buyback program by utilizing the authorization as granted by the 2025 Annual General Meeting (AGM). Transactions will be carried out by market purchases in accordance with applicable laws and be executed based on the market price on the Oslo Stock Exchange. The maximum consideration to be paid for shares acquired under the buyback program is NOK 15 per share. The maximum number of shares that can be purchased under the new authorization is 8,198,950 shares. However, the Company cannot any time hold treasury shares which in the aggregate represents more than 10% of the entire share capital of the Company. As the Company currently holds 3,151,820 treasury shares, the new buyback program is for a maximum of 5,047,130 shares. The program will be initiated as from today and expire no later than at the 2026 AGM.
Otello is entering into a non-discretionary agreement with a third party who will make its trading decisions independently of, and uninfluenced by, Otello. Transactions will be conducted in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and Commission Delegated Regulation (EU) No 2016/1052 ("Safe Harbour Regulation") as further set out i.a. in the Norwegian Securities Trading Act of 2007 and the Oslo Stock Exchange's Guidelines for buy-back programs and price stabilization dated February 2021. Transactions will be reported on a weekly basis.