Investor Relations
Extraordinary Announcement of 4iG Plc.
Adoption of a share buy-back programme
4iG Public Limited Company (hereinafter referred to as: “ 4iG ”) hereby informs the participants of the capital market that today, on 16 October 2024, the Board of Directors of 4iG, on the basis of the authorisation granted by the General Meeting of 4iG in its resolution 19/2023 (IV.28), has decided to adopt a share buy-back programme in accordance with Article 5 of the Regulation (EU) No 596/2014 of the European Parliament and of the Council on market abuse (Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (16 April 2014.) (hereinafter referred to as: “ MAR ”) in order to meet the obligations arising from stock option plans and to acquire the shares necessary to operate the 4iG share-based incentive scheme.
The Board of Directors of 4iG has appointed an investment service provider to act as lead manager of the share buy-back programme, to make independent trading decisions regarding the timing of purchases of 4iG shares and to purchase 4iG ordinary shares on the Budapest Stock Exchange (hereinafter referred to as: “ BÉT ”) for the benefit of 4iG in accordance with the buy-back programme.
In the period from 18 October 2024 to 31 March 2025, the investment service provider shall purchase under the share buy-back programme a maximum of 1,000,000 (i.e. one million) 4iG ordinary shares for a total consideration of HUF 1.000.000.000,- (one billion Hungarian forints) for the benefit of 4iG on the BÉT, provided that the total nominal value of the treasury shares, including the ordinary shares to be purchased, shall not exceed 5% (i.e. five percent) of 4iG's actual share capital at any time. If the number of treasury shares purchased reaches 1,000,000 (i.e. one million), or the investment service provider exhausts the HUF 1,000,000,000 (i.e. one billion Hungarian forints) budget for the programme, or the total nominal value of the treasury shares together with the ordinary shares purchased reaches 5% (i.e. five percent) of 4iG's actual share capital at the time, the programme shall be closed, regardless of any other conditions.
The investment service provider shall always carry out share purchases in compliance with the restrictions set out in the Commission Delegated Regulation No. 2016/1052 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the conditions applicable to buy-back programmes and stabilisation measures (8 March 2016) (hereinafter referred to as: “ MAR Implementing Regulation ”) and the General Meeting resolution No. 19/2023 (IV. 28.). Under Article 3(2) of the MAR Implementing Regulation the investment service provider shall not, when executing transactions under the buy-back programme, purchase 4iG ordinary shares at a price higher than the higher of the price of the last independent trade and the highest current independent purchase bid on the BÉT, including when the shares are traded on different trading venues. Under Article 3(3) of the MAR Implementing Regulation the investment service provider shall not purchase on any trading day more than 25 % (i.e. twenty-five percent) of the average daily volume, i.e. the average daily volume for the month of September 2024, of the 4iG ordinary shares on BÉT. The average daily volume of 4iG ordinary shares for the month of September 2024 was 42,210 shares (i.e. forty-two thousand two hundred and ten shares).
The General Meeting resolution No. 19/2023 (IV. 28.) authorizing the Board of Directors of 4iG to buy back treasury shares is available at the following link: https://www.bet.hu/site/newkib/en/2023.04./4iG_Nyrt._-_GM_-_Minutes_128883557
Budapest, 16 October 2024
4iG Plc.