Photocure ASA starts share buyback – Euronext Markets

Photocure ASA has recently announced the initiation of a share buyback program. The company plans to repurchase up to 200,000 of its own shares, totaling a maximum amount of NOK 20 million. This buyback program will be executed between the announcement date and May 5, 2025.

The decision to initiate the share buyback program is in accordance with the authorization granted by the company’s annual general meeting in May 2024. The buybacks will adhere to the principles of the Market Abuse Regulation (EU) as well as the Commission Delegated Regulation regarding exemptions from market manipulation, insider trading, and disclosure of inside information for share repurchase programs.

Photocure ASA views its shares as a valuable investment opportunity at the current market levels. The primary purpose of the buyback program is to acquire shares at what the company perceives to be attractive prices. These shares will then be used to fulfill obligations related to Photocure’s long-term incentive programs or reduce the total number of shares outstanding.

The authorization allows the company to repurchase its own shares at a price range between NOK 0.50 and NOK 250 per share. This authorization is valid until the annual general meeting in 2025, or no later than June 30, 2025.

To manage and execute the share buyback program, Photocure ASA has engaged DNB Markets, a division of DNB Bank ASA. All buyback transactions will be conducted on Euronext Oslo Børs by DNB Markets independently of the company. The company retains the right to discontinue the repurchases at any time and may decide to terminate the buyback program before reaching the specified threshold.

As of the announcement date, Photocure ASA owns 314,148 of its own shares. Additionally, the company has already repurchased 300,000 shares under the current authorization.

For further information, individuals can contact Dan Schneider, President, and CEO, or Erik Dahl, CFO, of Photocure ASA. Photocure ASA is headquartered in Oslo, Norway, and listed on the Oslo Stock Exchange under the symbol OSE: PHO.

The company specializes in providing innovative solutions to improve the lives of bladder cancer patients. Their unique technology, which causes cancer cells to fluoresce bright pink, has resulted in better health outcomes for patients worldwide. To learn more about Photocure ASA and their products, visit their official website at www.photocure.com or www.cysview.com.