Kitron ASA (OB:KIT)commences a share repurchases on May 12, 2022, under the program mandated by the shareholders in the Annual General Meeting held on April 27, 2022. As per the mandate, the company is authorized to repurchase its own shares worth a total nominal value of NOK 1.97 million, representing 10% of the company's share capital. The company will pay a minimum NOK 1 per share and maximum the prevailing market price per share on the day the offer is made, provided, however, that the maximum amount does not exceed NOK 25 per share.

The shares repurchased shall either be cancelled, used as remuneration to the members of the Board of Directors, used in incentive schemes or be used as consideration in connection with acquisition of other companies or businesses, joint ventures or joint business operations, and acquisition of property and business. This authorization shall be valid until next Annual General Meeting, but not longer than June 30, 2023. As of April 6, 2022, the company had 197,014,389 shares outstanding and had no shares in treasury.