Amsterdam,
07
March
2024
|
07:00
Europe/Amsterdam

NSI announces share buyback program of maximum €20m

NSI N.V. (Euronext: NSI / NL0012365084) - Regulatory news

NSI will repurchase shares for a maximum amount of €20m and for a number of shares not exceeding 10% of the issued shares, as per the authority granted by the general meeting of 21 April 2023. The program will commence on 11 March 2024 and will run until 30 September 2024. The share buyback will be conducted by a financial intermediary.

Bernd Stahli, CEO: ‘The sale of Laanderpoort has released NSI from a sizeable capital commitment, allowing for the pursuit of more attractive opportunities elsewhere. Deeply discounted, we deem our shares the most attractive investment we can make at this time. The proceeds of Laanderpoort in combination with the strong balance sheet position, are the basis of the €20m share buy-back program. NSI remains committed to capital discipline and value creation’.

 The share buyback program will be executed in compliance with applicable rules and regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052. The program is carried out under the authority granted by the General Meeting of shareholders on 21 April 2023. NSI will provide regular updates on the progress of the program, in line with relevant regulations, via Share Buyback Program (nsi.nl)

This press release is published by NSI N.V. and contains inside information within the meaning of article 7 (1) to (4) of the Market Abuse Regulation (Regulation (EU) No 596/2014).