Hrvatski Telekom, has in line with its Treasury Share Buyback Program, in the last two days acquired shares worth HRK 92m.
In the last two days Hrvatski Telekom through its Buyback program acquired treasury shares in total value of HRK 92m over two block transactions on the Zagreb Stock Exchange. The 1st transaction was made on 31 January 2022, where 55,500 shares were bought, at a weighted average price of HRK 184 per share – resulting in a HRK 10m worth buyback transaction. The 2nd transaction was realized yesterday (1 February 2022), where 445,769 shares were acquired at a weighted average price of HRK 183 per share, resulting in a HRK 81.6m worth buyback transaction.
These two transactions are in line with its Treasury Share Buyback Program which commencement on 29 April 2021 and is lasting until 22 April 2026. The maximum number of shares intended to be acquired through Buyback Program during this period is 3m, while the maximum amount allocated to the Program is HRK 600m. This is in line with our estimates as we have projected that Hrvatski Telekom will in 2022 acquire treasury shares worth at lest HRK 140m. These two transactions amount to 66% of this amount, so majority of this planned amount is already realized at the beginning of the year over two bigger transactions.
Following these acquisitions, HT holds a total of 866,830 treasury shares, representing 1.082894% of the Company’s share capital. The share capital amounts to HRK 10,244,977,390.25 and is divided into 80,047,509 shares (without nominal value).
As a reminder, according to the Company’s buyback program, the maximum amount of shares that can be acquired during its duration is 3m, with the maximum amount allocated to the program HRK 600m. The implementation of the Program was commissioned to the brokerage house InterCapital Securities which will acquire HT shares on the regulated market of the Zagreb Stock Exchange (ZSE) via offer book, block transactions and agreed (OTC) transactions or through organized “tender” offers on the ZSE, independently and without any influence of the Company in in terms of the timing of the share purchase.
It should also be noted that during 2021, the Company’s Management Board withdrew 718,720 Company shares without nominal value, without the share capital of the Company being decreased. This reduced the total number of shares from 80,766,299 shares to 80,047,509 shares without nominal value.
To read more about HT’s share buyback program, click here.