Cambi ASA: Initiation of a share buyback program over the stock exchange

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS COMMUNICATION.

Reference is made to the notice issued on 20 December 2022, where the Board of Directors was authorised by the extraordinary general meeting (EGM) to acquire up to 10% of outstanding shares in Cambi ASA.

Cambi has decided to initiate a share buyback program over the stock exchange. The share buyback program will be for a maximum of 712,035 shares, equivalent to approximately 0.4% of the total share capital.

The buyback program will commence on 20 January 2023 and the repurchased shares are intended to be used in connection with Cambi’s employee incentive program. The program will run until the ordinary general meeting (currently set for 10 May 2023) or the buyback target is reached, whichever occurs first.

The number of shares acquired per day shall not exceed 8,446, representing 25% of the average trading volume in December 2022 (excluding previous share buyback volume on 22 December 2022).

Cambi is, at the initiation of the program, not possessing any material non-public information.

The buyback program will be carried out by way of repurchases in the market and Cambi has engaged DNB Markets, a part of DNB Bank ASA, to manage the buyback program. DNB Markets will make its trading decisions independently of, and uninfluenced by, Cambi.

The share buyback program is carried out in accordance with the Market Abuse Regulation (EU) No 596/ 2014 ("MAR”) and Commission Delegated Regulation (EU) No 2016/1052 ("Safe Harbour Regulation").

For more information, please contact:
Mats Tristan Tjemsland, CFO, +47 920 67 094

Notice:

This information is made public by Cambi pursuant to the EU Market Abuse Regulation and information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act. The offer and the distribution of this announcement and other information in connection with the offer may be restricted by law in certain jurisdictions. Cambi does not assume any responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or relevant information should come are required to inform themselves about and observe any such restrictions. The offer is not being made directly or indirectly in, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of, or any facilities of a national securities exchange of, the United States of America, its territories and possessions, any State of the United States and the District of Columbia. This includes, but is not limited to, facsimile transmission, internet delivery, e-mail and telephones. Copies of this release and any related documents are not being, and must not be, mailed, e-mailed or otherwise distributed or sent in or into the United States, and so doing may invalidate any purported acceptance.