The Board of Directors of VNV Global has resolved to repurchase own shares
May 16, 2024 at 02:00 am EDT
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The Board of Directors of VNV Global AB (publ) (the “Company”) has resolved, by virtue of authorisation by the annual general meeting on 15 May 2024, to repurchase the Company’s own ordinary shares.
The purpose of the resolution on acquisition of own shares is to provide flexibility in relation to the Company’s possibilities to return capital to its shareholders, to improve the capital efficiency in the Company, and to prevent a NAV/share price discount in relation to the Company’s shares.
Acquisition of own ordinary shares shall take place on Nasdaq Stockholm in accordance with Nasdaq Stockholm’s Rulebook for Issuers. The acquisitions may be made on one or several occasions, however not longer than until the next annual general meeting. Ordinary shares may be acquired to the extent that the company’s holding of its own shares, on any occasion, does not exceed ten (10) per cent of the Company’s total shares. Acquisition of shares may only take place at a price within the price interval, on any occasion, recorded on Nasdaq Stockholm, which refers to the interval between the highest buying price and the lowest selling price.
Any acquisition of own ordinary shares is also subject to the terms under the Company’s outstanding bonds.
As of the date of this press release, the Company holds no ordinary shares and the number of outstanding shares in the company is 134,510,235 and are divided into four classes of shares as follows:
130,978,236 ordinary shares, with one vote each.
111,999 reclassifiable subordinated incentive shares of class C-2022, with one vote each.
1,710,000 reclassifiable subordinated incentive shares of class C-2023, with one vote each.
1,170,000 reclassifiable subordinated incentive shares of class D-2023, with one vote each.
VNV Global AB (publ) is a Sweden-based investment company that conducts operations with the business idea of identifying and investing in assets with great value increase potential, with a focus on companies with network effects. VNV Globalâs investment strategy is to invest primarily in private equity with high value increase potential. The Company invests globally, regardless of the size. VNV supports entrepreneurs that solve real problems on the large markets through technology. The Company's investments revolve around Digital Health, Mobility, Marketplace, Classifieds and Other sectors. Its portfolio consists of BlaBlaCar, Babylon, Property Finder och Voi Technology to name a few. VNV Global operates in Stockholm, Amsterdam, and Cyprus.