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Otello Corporation ASA

Transaction in Own Shares • Jan 14, 2024

3704_rns_2024-01-14_efcd54aa-c165-4792-942a-9ab23fdbaf18.html

Transaction in Own Shares

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Otello Corporation share buyback program status

Reference is made to the stock exchange notice from 20 June 2023 announcing a share buyback program for Otello Corporation ASA (the Company). From 8 January 2024 through 12 January 2024, Pareto Securities AS has bought 31,504 shares on behalf of the Company at an average price of NOK 7,98 and a total value of NOK 251,512. Since the initiation of the share buyback program a total of 3,229,058 shares at an average price of NOK 8,57 and a total value of NOK 27,682,870 have been acquired. The maximum consideration to be paid for shares acquired under the buyback program is NOK 15 per share and the maximum number of shares that can be purchased is 4,554,986 shares (5% of total outstanding shares). At present date, Otello owns 3,229,058 treasury shares in the Company. The shares are purchased in accordance with the authorization granted at the company's annual general meeting on 1 June 2023.