Oberbank AG (WBAG:OBS) announces a share repurchase program. Under the program, the company will repurchase up to 90,000 ordinary shares. The shares shall be repurchased at a minimum price which may not be more than 20% lower than the average of the official unit prices for the shares determined on the Vienna Stock Exchange on the three trading days preceding the acquisition.

The highest consideration to be paid on the repurchase may not exceed the average of the official unit prices for the ordinary shares of the company determined on the Vienna Stock Exchange on the three trading days preceding the acquisition than 20%. The repurchased shares shall be used to cover the 2023 employee campaign resolved by the company; or for the remuneration of the Board of Management (variable component of the remuneration of the Board of Management in shares) and for employee remuneration; or for the purpose of a future expansion of the employee campaign, for future employee actions or for Executive Board remuneration or for employee remuneration in subsequent years. The program will expire on June 14, 2023.