Opera Announces US$50 Million Share Repurchase Program
January 17 2020 - 9:20AM
Opera Limited (Nasdaq:OPRA) (“Opera” or the “Company”), one of the
world’s major browser developers and a leading internet consumer
brand, today announced that its board of directors has approved a
share repurchase program, which authorized the Company’s management
to execute the repurchase of up to US$50 million of its American
Depositary Shares by January 17, 2021, in any form that management
may deem fit. The Company’s management intends to launch the
repurchase in February 2020 and the proposed purchases will be made
from time to time in an opportunistic manner and depending on
market conditions. All purchases will be made in accordance with
the requirements of Rule 10b-18 and Rule 10b-5 under the U.S.
Securities Exchange Act of 1934, as amended.
The Company has recently launched and scaled
multiple new businesses and posted strong financial results, and
intends to continue leveraging its well-known brand and large user
base of more than 350 million users for additional growth. The
Company also remains committed to maintaining high standards of
corporate governance, as well as transparent and timely disclosure
in compliance with the applicable rules and regulations of the
United States Securities and Exchange Commission and the Nasdaq
Global Select Market.
About Opera
Opera is a leading global internet brand with an engaged and
growing base of over 350 million average monthly active users.
Building on over 20 years of innovation, starting with our browser
products, we are increasingly leveraging our brand as well as our
massive and highly active user base in order to expand our
offerings and our business. Today, we offer users across Europe,
Africa and Asia a range of products and services that include our
PC and mobile browsers as well as our AI-powered news reader Opera
News and our app-based microfinance solutions.
For more information, please visit
https://investor.opera.com/
Safe Harbor Statement
This announcement contains statements of a forward-looking
nature. These statements, including statements relating to the
Company’s future financial and operating results, are made under
the “safe harbor” provisions of the U.S. Private Securities
Litigation Reform Act of 1995. You can identify these
forward-looking statements by terminology such as “will,”
“expects,” “believes,” “anticipates,” “intends,” “estimates” and
similar statements. These forward-looking statements involve known
and unknown risks and uncertainties and are based on current
expectations, assumptions, estimates and projections. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement. All information
provided in this press release is as of the date hereof, and Opera
undertakes no obligation to update any forward-looking statements
to reflect subsequent occurring events or circumstances, or changes
in its expectations, except as may be required by law. Although
Opera believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you
that its expectations will turn out to be correct, and investors
are cautioned that actual results may differ materially from the
anticipated results. Further information regarding risks and
uncertainties faced by Opera is included in Opera’s filings with
the U.S. Securities and Exchange Commission, including its annual
report on Form 20-F.
For investor inquiries, please contact:
Derrick Nueman Phone: +1 (408) 596-3055 Email:
investor-relations@opera.com
For media inquiries, please contact:
Email: press-team@opera.com
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