LONDON - Supernova Digital Assets PLC (AQSE: SOL) has completed a share buyback transaction on December 27, 2024, as part of a program authorized by its shareholders earlier in the year. The digital asset company repurchased 67 million ordinary shares at a uniform price of £0.002239 per share through Oberon Investments Limited, a move that aligns with the resolution passed during the Annual General Meeting (AGM) on May 7, 2024.
The buyback represents a significant step for Supernova, as the maximum number of shares authorized for repurchase totals 1.3 billion, approximately 90% of the company's issued capital as of April 5, 2024. The company has set the minimum price for repurchases at the nominal value of an ordinary share and the maximum price at the higher of £0.0024 or an amount equal to the net asset value per share, as announced from time to time.
Following the transaction, Supernova's issued share capital stands at 1,603,225,646 ordinary shares, with the repurchased shares to be held in treasury. For the purpose of the Financial Conduct Authority's (FCA) Disclosure and Transparency Rules, the market should use the figure of 1,536,225,646 shares, which excludes treasury-held shares, to determine notification requirements for changes in shareholdings.
The authority for the buyback program was granted until December 31, 2025, indicating that further repurchases may follow. The company has committed to providing updates on any additional buyback activities.
The share buyback is a financial maneuver often employed by companies to reduce the number of shares in circulation, which can potentially increase the value of remaining shares and provide returns to shareholders. This announcement is based on a press release statement from Supernova Digital Assets PLC.
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