Catena Media plc (OM:CTM) commences share repurchases on July 17, 2023, under the program mandated by the shareholders in the Extraordinary General Meeting held on July 12, 2023. As per the mandate, the company is authorized to repurchase up to 7,203,534 shares, representing 9.15% of its issued share capital, such that the company?s holding in treasury together with the shares repurchased does not exceed 10% of its issued share capital at any point of time. Repurchase 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., provided that the maximum price at which shares may be repurchased shall be the lowest selling price of the shares on Nasdaq Stockholm at the time of the relevant repurchase and the minimum price at which shares may be repurchased shall be the highest buying price of the shares on Nasdaq Stockholm at the time of the relevant repurchase. The purpose behind the proposed authorization is to provide flexibility as regards the company's possibilities to distribute capital to its shareholders and to
promote more efficient capital usage in the company. The repurchased shares will be cancelled. The program is valid for 18 months or until the Annual General Meeting 2024, whichever is earlier. As of May 24, 2023, the company had 78,699,262 shares in issue.