CoinShares announces share buyback program
01 June 2023 | SAINT HELIER, Jersey - The Board of Directors of CoinShares International Limited ("CoinShares" or the "Company") (Nasdaq Stockholm: CS;US OTCQX: CNSRF), Europe's leading alternative asset manager specialising in digital assets, resolved to repurchase shares on Nasdaq Stockholm during the period 1 June 2023, up to and including 6 November 2023 for total maximum amount of SEK 30 million in accordance with the authorisation from the Annual General Meeting on 31 May 2023.
The Board of Director's resolution to implement the share buyback program was made after the Board's review of the Company's capital structure and is implemented for purposes of maintaining a hedge against options granted the Company’s Employee Incentive Plan.
The share buyback program will be carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and the Commission Delegated Regulation (EU) No 2016/1052 (the "Safe Harbour Regulation").
The share buyback program resolved by the Board of Directors is subject to the following terms:
- Acquisitions may only be effected on Nasdaq Stockholm in accordance with MAR and the Safe Harbour Regulation.
- Shall be conducted and structured in accordance with Nasdaq Stockholm Rulebook for Issuers.
- Acquisitions shall commence no earlier than 1 June 2023 and shall end no later than 6 November 2023.
- Acquisitions may only be effected at a price per share within the prevailing band of prices applying on Nasdaq Stockholm from time to time and in accordance with the restrictions relating to price in the Safe Harbour Regulation and set out in the resolution passed at the Annual General Meeting on 31 May 2023. The range of prices pertains to the range between the highest purchase price and the lowest selling price disseminated by Nasdaq Stockholm from time to time.
- Acquisitions may only be effected in accordance with the restrictions regarding volume for acquisitions of own shares stated in the Safe Harbour Regulation.
- The Company's holding of own shares may not at any time exceed 10 per cent of the outstanding shares in the Company.
- Payment for the shares shall be made in cash.
The total number of shares in CoinShares is at the date of this press release 68,135,425. At the time of this press release the Company holds 592,364 own shares.
About CoinShares
CoinShares is Europe’s leading alternative asset manager specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. The firm is headquartered in Jersey, with offices in France, Stockholm, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.
For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | [email protected]
Investor Relations | +44 (0)1534 513 100 | [email protected]
This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014). The information in this press release has been published through the agency of the contact persons set out above, at 08:00 BST on Thursday, 01 June 2023.
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