Overview of AB Artea Bankas' Share Buyback Efforts
This announcement provides an update on the share acquisition process undertaken by AB Artea Bankas as part of its ongoing commitment to enhance shareholder value. The Bank has been acquiring its own shares as part of a structured buyback program, initially announced in a past communication, and is now sharing detailed reports about these transactions.
Transaction Summary
The buyback of shares took place within a specific timeframe. According to recent reports, the transactions were conducted between early October and late October. During this reporting period, data was collected to ensure that shareholders are informed about how many shares the Bank has repurchased and at what prices.
Detailed Transaction Breakdown
The following is a breakdown of share acquisitions during the reported week: from October 20 to October 24. On October 20, a total of 78,000 shares were purchased at a weighted average price of €0.830, resulting in a transaction value of €64,702. On subsequent days, the Bank continued its purchasing strategy, acquiring 78,000 shares each day, albeit at slightly varying prices.
On October 21, shares were bought at €0.822, leading to a total transaction value of €64,080. The pattern continued on October 22, with another 78,000 shares bought at €0.815, resulting in €63,532. The acquisitions for October 23 and 24 followed suit, with prices at €0.815 and €0.813, equating to transaction values of €63,532 and €63,414, respectively.
Total Shares Acquired
Reflecting on the week, the Bank successfully acquired a total of 390,000 shares during this reporting period, with an average weighted price of €0.819 and an aggregate transaction value of €319,260. Over the duration of the entire buyback program, the cumulative number of shares purchased reached an impressive 1,130,250, indicating a strong commitment to enhancing value for shareholders. The presented data reflects the Bank's strategy to invest in its own equity, signaling confidence in its future growth potential.
Implications for Shareholders
The Bank’s share buyback program not only supports share price stability but also reflects its ongoing effort to return capital to shareholders. Following these purchases, the total shares owned by the Bank now stand at 3,670,250 units, which represents approximately 0.56% of the total issued shares. This mark of confidence is essential for shareholders who are looking for reassurance in their investments.
Future Outlook
As the Bank progresses with its buyback initiatives, it aims to continuously evaluate market conditions and share performance. The commitment to repurchase shares demonstrates a proactive approach to capital management, aiming to bolster shareholder value and foster investor confidence in AB Artea Bankas as a robust financial institution.
Contact Information
For additional insights or inquiries related to the share buyback program, shareholders and interested parties can reach out to the Chief Financial Officer, Tomas Varenbergas, via email at tomas.varenbergas@artea.lt or call +370 610 44447.
Frequently Asked Questions
What is the purpose of the share buyback program?
The share buyback program aims to enhance shareholder value, provide capital returns, and manage the capital structure of AB Artea Bankas.
How many shares has AB Artea Bankas repurchased this week?
During the reported week, AB Artea Bankas repurchased a total of 390,000 shares.
What was the average price per share for the transactions?
The average weighted price per share during this week's transactions was €0.819.
What percentage of the Bank's total shares do the repurchased ones represent?
The repurchased shares account for about 0.56% of the total issued shares of AB Artea Bankas.
Who can I contact for more information about the share buyback?
You can reach Tomas Varenbergas, the Chief Financial Officer, at tomas.varenbergas@artea.lt.
