24 January 2025 Šiaulių Bankas AB (the Bank) has completed its own share buy-back programme on the regulated market, which was carried out from 4 November 2024. During this period, the Bank acquired 5,092,863 treasury shares, i.e. 74 % of the maximum number of shares within the limit set at the time of the programme’s expiry, for a total amount of EUR 4,345,207.01 million, at an average price of EUR 0.853 per share.
“We are the first bank in the Baltic market to implement an open market buy-back programme for its own shares. The successful implementation of this programme has increased the Bank’s attractiveness to investors by increasing the liquidity of its shares on the stock exchange and the return to shareholders. In the long term, we plan to continue to optimise and efficiently manage the Bank’s capital in order to increase shareholder value. We will continue to use a variety of financial instruments, including buy-backs”, says Tomas Varenbergas, Board Member, Head of Investment Management Division of Šiaulių Bankas.
On 15 August 2024, the Bank received authorisation from the European Central Bank (ECB) to buy back up to 13,745,114 of its own shares. The Bank has already purchased 11,092,863 treasury shares on the basis of this authorisation. The remaining unused limit amounts to 2,652,251 shares. The Bank will make efforts to use the remaining share buy-back to the full limits before the expiry of the authorisation period, i.e. by 15 August this year, taking into account the Bank’s market value and other circumstances.
The Bank will inform about further buy-backs of its own shares in a separate announcement once the Management Board of the Bank will take a decision. This will be done no earlier than after the publication of the 2024 results and the drafting resolutions by the Management Board of the Bank for the Ordinary General Meeting of Shareholders of Šiaulių Bankas to be held on 31 March 2025.
Additional information:
Tomas Varenbergas
Head of Investment Management Division
[email protected]
