Zaptec ASA (OB:ZAP) commences an Equity Buyback Plan, under the authorization approved on June 14, 2023.
December 04, 2023
Share
Zaptec ASA (OB:ZAP) commences share repurchases on December 1, 2023, under the program mandated by shareholders in the Annual General Meeting held on June 14, 2023. As per the mandate, the company is authorized to repurchase its own shares, such that such that the nominal value of the shares which the company may acquire in total may not exceed NOK 0.13 million. The minimum price which may be paid for each ordinary share is NOK 1 per share and the maximum price is NOK 50 per share. The purpose of the program is to optimize company's capital structure. The repurchased shares can be used either in whole or in part, as consideration in connection with acquisition activities and to deliver shares subscribed for under the Investment Program or a similar new investment program. The program is valid until the next Annual General Meeting of the company in 2024 or June 30, 2024. As of May 24, 2023, the company had 87,520,790 shares outstanding with no shares in treasury.
On November 30, 2023, the company announced a share repurchase program. Under the program, the company will repurchase up to 130,000 shares for NOK 2 million worth of its shares. The purpose of the program is to honor share options granted pursuant to the company's incentive programs. As of November 30, 2023, the company had 37,709 treasury shares.
Zaptec ASA is a Norway-based technology company. The Company offers intuitive and efficient Electric Vehicle (EV) chargers that ensure easier access to personal electric transport by combining the newest technology with a user-oriented design. Zaptecâs charging stations include Zaptec Go and Zaptec Pro. Zaptec Go makes charging 10 times faster than using a socket, it fits well with all types of electric cars and homes and is one of the smallest smart chargers on the market, while Zaptec Pro is suitable for larger parking spaces in housing cooperatives and co-ownership properties, companies and newbuilds. The Company also offers Zaptec Sense, that automatically adjusts the charging speed in order to avoid overloading and power outages. Zaptec AS has several subsidiaries, including Zaptec Deutschland GmBH, Zaptec Sverige AB and Zaptec Danmark ApS.
ZAPTEC ASA 
