Vitec Software Group AB (publ) resolves to acquire own Class B Shares

The Board of Directors of Vitec Software Group AB (publ) (“Vitec Software Group” or the “Company”) has today resolved, in accordance with the authorisation granted by the Annual General Meeting held on 25 April 2023, to acquire no more than 80,000 own class B shares on Nasdaq Stockholm, corresponding to approximately 0.2 per cent of all shares in Vitec Software Group at the time of this press release. The purpose of the resolution is to secure the delivery of class B shares in Vitec Software Group to the participants in the Company’s employee share savings program (ESSP 2023) launched in May 2023, and to secure the related costs for social security contributions.

The acquisitions may be made on one or more occasions during the period up to the Annual General Meeting 2024. The Board of Directors may decide on further acquisitions of own class B shares based on the authorisation of the Annual General Meeting in 2023.

The acquisitions shall be made on Nasdaq Stockholm in accordance with the Nordic Main Market Rulebook for Issuers of Shares. The acquisitions shall be made at a price within the price range applicable on Nasdaq Stockholm at the time, meaning the range between the highest purchase price and the lowest sale price. Payment for acquired shares shall be made in cash.

The acquisitions will be executed by an investment firm or credit institution on behalf of Vitec Software Group. Completed acquisitions of class B shares in Vitec Software Group will be reported to Nasdaq Stockholm in accordance with applicable rules.

At the time of this press release, the total number of registered and outstanding shares in the Company amounts to 37,495,017 shares, divided into 2,650,000 class A shares and 34,845,017 class B shares. Vitec Software Group holds 1,500 shares at the time of this press release.

For the complete authorisation, resolved by the Annual General Meeting 2023, please see https://www.vitecsoftware.com/.

Vitec Software Group
The Board of Directors

ABOUT VITEC
Vitec is a leading provider of Vertical Software and has its origin and headquarters in Umeå, Sweden. Our products are developed to meet specific needs within various niche markets in society. The expertise of our employees, combined with our shared corporate culture and business model, enable continuous improvement and innovation. We grow through the successes of our companies, as well as through acquisitions. Everything we do is based on a long-term perspective. Because we are to rely on – today and tomorrow. Vitec has 1,430 employees, is listed on Nasdaq Stockholm and had net sales of SEK 1,978 million in 2022. Read more at vitecsoftware.com.