20.5.2022 09:44:43 CEST | Cyviz | Acquisition or disposal of the issuer's own shares
Almost half of the employees in Cyviz AS have participated in the company’s newly establish share purchase program. The program implies that all employees are offered to acquire new shares in the Company for an amount of between NOK 10,000 and NOK 100,000 each. In total, 71 of Cyviz’ 149 employees have participated.
“As a leading global provider of advanced collaboration solutions, we are perfectly positioned to leverage the trends of remote working and reduced business travel post covid. It is really positive to see that such a large part of our employees are investing in Cyviz, showing confidence in the long-term prospects of our company,” says CEO of Cyviz Espen Gylvik.
The Employee Share Purchase Program is implemented by the Board of Directors of Cyviz AS, on the basis of the authorization granted to the Board of Directors by the annual general meeting of the Company on 27 May 2021. The shares have been offered at a price based on the volume weighted average share price for the Company’s shares on the Oslo Stock Exchange during the application period, with a discount of 25% on the aggregate investment amount. The offer price for the shares in the Employee Share Purchase Program has been set to NOK 27.255 per share (the “Offer Price”). Any shares acquired in the Employee Share Purchase Program will be subject to a lock-up period of one year.
The application period in the Employee Share Purchase Program was from 2 May 2022, at 09:00 hours (CEST) to 16:30 hours (CEST) on 13 May 2022. Shares acquired in the offer will be settled in the form of new shares in the Company to be issued pursuant to the authorization granted to the Board of Directors by the annual general meeting held on 27 May 2021.
Based on the applications received in the Employee Share Purchase Program, the board of directors of the Company has allocated a total of 139 364 new shares to the participants in the Employee Share Purchase Program (the “Program Shares”). Furthermore, the Board of Directors has resolved to increase the share capital of the Company with NOK 153 300, by issuance of 139 364 new shares, each with a nominal value of NOK 1.10. The Program Shares comprise approximately 1.1% of the existing and outstanding shares in the Company prior to the issuance. Following the registration of the share capital increase with the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret), the new share capital of the Company will be NOK 14 327 456.7 divided into 13 024 961 shares, each with a nominal value of NOK 1.10.
Disclosure regulation
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
Contacts
Espen Gylvik, CEO, Cyviz AS, +4791330644, espen.gylvik@cyviz.com
Marius Skagen, CFO & Investor Relations, Cyviz AS, +47 986 44 846, marius.skagen@cyviz.com
About Cyviz
Cyviz is a global technology provider for comprehensive conference and control rooms as well as command and experience centers. Since 1998, Cyviz has simplified the way the digital workforce connect, visualize, and collaborate across technologies and critical data. The IT-driven turnkey solutions are easy to deploy, manage and support. Today, Cyviz serves global enterprises and governments with the highest requirements for usability, security and quality. The cross platform experience Cyviz delivers to manage and control systems and resources across the enterprise makes Cyviz the preferred choice for customers with complex needs.
Cyviz is listed on Euronext Growth at the Oslo Stock Exchange (ticker: CYVIZ)
cyviz.com
