At Adevinta, we believe everything and everyone has a purpose in life. Our selection of digital brands unlock the full value in every person, place and thing by creating perfect matches on the world’s most trusted marketplaces.
With trusted brands that enjoy leading market positions, Adevinta operates a resilient business model at the centre of the second-hand economy at the time when consumers are seeking more sustainable and cost-efficient ways to buying products.
Sustainability is in our DNA, and we are recognised as a global sustainability leader by DJSI Europe. By providing marketplaces where people buy and sell second-hand goods, we contribute to the circular economy and help people live more sustainably.
At Adevinta we'll stay ahead of the curve by using innovation, curiosity and technology to develop products that help everyone and everything find new purpose.
We're all about matchmaking, and we take the same approach to hiring. But it's not just about finding the right skills for the job. It's also about making sure the role and the culture are the right match too.
We care about gaining and keeping the trust of our users, customers and stakeholders by acting responsibly, promoting sustainability and protecting the environment.
We invest in companies with tangible traction, a potential to scale beyond their domestic market, and who we can support with more than just financial resource.
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Oslo, 3 March 2020 - Adevinta ASA (“Adevinta” or the “Company”) has decided to initiate a buyback of up to 1,700,000 of its own shares. The shares are to be used as settlement in the Company’s share-based incentive schemes as well as employee share saving plans.The buybacks will be made in accordance with the authorization granted to the Board of Directors by the Company’s General Meeting held on 5 May 2020. As stated in the authorisation, shares shall be purchased at a minimum of NOK 20 and a maximum of NOK 750 per share. The authorisation is valid until the Ordinary General Meeting in 2021.
The buyback will commence following this announcement and is expected to end no later than on 2 April 2020. The shares shall be purchased on Oslo Børs. Adevinta has engaged DNB Markets, a part of DNB Bank ASA, to carry out the share buyback on behalf of the Company. The execution of any repurchases will depend on market conditions, the buyback programme may be discontinued at any time and the Company may resolve to terminate the buyback programme before the threshold set out above is reached.Adevinta does not own shares in the Company as of today.For further information, please contact Investor Relations:Marie De Scorbiacir@adevinta.com
About Adevinta ASA
Adevinta is a global online classifieds specialist, operating digital marketplaces in 11 countries. The company provides technology-based services to connect buyers with sellers and to facilitate transactions, from job offers to real estate, cars, consumer goods and more. Adevinta’s portfolio includes more than 30 digital products and websites, attracting 1.3 billion average monthly visits. Leading brands include top-ranked leboncoin in France, InfoJobs and Milanuncios in Spain, and 50% of fast-growing OLX Brazil. Adevinta spun off from Schibsted ASA and publicly listed in Oslo, Norway in 2019. Adevinta is majority owned by Schibsted ASA and employs 4,700 people committed to supporting users and customers daily. Find out more at Adevinta.com.The buyback and the distribution of this announcement and other information in connection therewith may be restricted by law in certain jurisdictions, and the buyback is not made in any jurisdiction in which this would be unlawful, require registration or other measures. The Company 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 such other information should come are required to inform themselves about and to observe any such restrictions.The buyback 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 (the "United States") or any other jurisdiction in which this would be unlawful. This includes, but is not limited to, facsimiletransmission, internet delivery, e-mail, telex and telephones. Accordingly, 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 sales offer.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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