Rana Gruber AS (the "Company") has decided to initiate a share buyback program including repurchases of up to 300.000 shares for a total value of up to NOK 14 million (the "Buyback Program").
The shares purchased under the Buyback Program will be redeemed (i.e. cancelled) by way of a share capital decrease in the Company, subject to approval by the Company's general meeting.
The Buyback Program will commence on 14 February 2022 and end when one of the following three events occurs: (i) the maximum number of shares to be purchased under the Buyback Program is acquired, (ii) the maximum amount for repurchases under the Buyback Program is used, and (iii) we have reached 25 February 2022.The Buyback Program will be carried out by way of repurchases in the market and the Company has engaged SpareBank 1 Markets AS to manage the Buyback Program. SpareBank 1 Markets AS will make its trading decisions in relation to the Company's shares independently of, and uninfluenced by the Company. Please note that this may result in the Company buying shares through periods in which the Company would otherwise have been restricted.
Repurchases of shares under the Buyback Program will be based on the board authorisation to acquire own shares granted by the Company's extraordinary general meeting on 8 December 2021.
For more information, please contact:
CEO, Gunnar Moe
+47 941 47 650
Gunnar.moe@ranagruber.no
CFO, Erlend Høyen
+47 902 02 741
Erlend.hoyen@ranagruber.no
About Rana Gruber:
Rana Gruber is a Norwegian iron ore producer and supplier established in 1964, with operations based on more than 200 years of mining experience. The Company's products are based on own natural mineral resources which are upgraded and tailored for applications and exported to its customers worldwide. Rana Gruber produces and sells iron ore concentrate, primarily serving steel producers and participants in the chemical industry. Rana Gruber also produces and sells micronised iron oxides and other dissemination of iron ore, and primarily serves paint manufactures and participants in the building- and automotive industries. Rana Gruber has about 300 employees and a production capacity of 1.8 million tons of iron ore concentrates and specialty products.
The information contained in this stock exchange announcement is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) article 7 and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
This stock exchange announcement was published by Vegard Nerdal, Investor Relations in Rana Gruber AS on 11 February 2022 at 07:00 am CET.