Protector Forsikring ASA (OB:PROTCT) commences an Equity Buyback Plan for 8,250,000 shares, representing 10% of its issued share capital, under the authorization approved on March 30, 2023.
May 23, 2023 at 12:05 am
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Protector Forsikring ASA (OB:PROTCT) commences share repurchases on May 12, 2023, under the program mandated by the shareholders in the Annual General Meeting held on March 30, 2023. As per the mandate, the company is authorized to repurchase up to 8,250,000 shares, representing 10% of its issued share capital. The shares will be repurchased at a price of not be less than NOK 1 and not more than NOK 250. The repurchased shares can be used for cancellation or be sold. The purpose of the program is to allow the Board to optimize the company's capital structure. The program will be valid till the next Annual General Meeting in 2024, or June 30, 2024. As of March 30, 2023, the company had 82,500,000 shares in issue and 122,551 shares in treasury.
On May 11, 2023, announces a share repurchase program. Under the program, the company will repurchase up to 100,000 shares, for a total of NOK 16.5 million. The purpose of the program is to fulfill obligations arising as a result of the company's bonus program for senior executives and key personnel and the company's share repurchase program for all employees. The repurchases will commence on May 12, 2023, and the program will expire on June 2, 2023.
Protector Forsikring ASA is a Norway-based multinational insurance company. The Company offers liability insurance for big and medium-sized companies and the public sector in Norway, Sweden, Denmark, Finland and the UK. It offers insurance withing the segments of: Property, Liability, Motor, Personal and Travel. Protector operates in non-marine insurance. The Company has two business segments: The Commercial lines of business, which offers insurance for both small and big companies and affinity programs through brokers; and The Public lines of business, which has established itself as an insurer in the public sector in the Nordics with more than 600 municipalities and over 30 county councils.
Protector Forsikring ASA (OB: PROTCT) commences an Equity Buyback Plan for 8,250,000 shares, representing 10% of its issued share capital, under the authorization approved on March 30, 2023.
PROTECTOR FORSIKRING ASA 
