Siauliu Bankas - Acquisition or disposal of the issuer's own shares

Šiaulių Bankas has submitted an application to the ECB for a share buyback program of up to EUR 11.5 million

On 11 April 2024, Šiaulių Bankas submitted a request to the European Central Bank (ECB) to buy back shares in order to increase shareholder value and to exercise options for the bank's employees.

Šiaulių Bankas seeks the permission to buy back its own ordinary shares (ISIN code LT0000102253):

• Up to 12,000,000 shares for no more than EUR 10.0 million in value within one year from the receipt of permission, in order to reduce the bank’s capital by cancelling the shares acquired by the bank;
• Up to 1,745,114 shares for no more than EUR 1.5 million in value, in order to grant shares to Šiaulių Bankas group employees as part of the deferred variable remuneration in 2025.

"In presenting the new bank's strategy, we have committed to pursuing high returns for our shareholders. We have previously announced our plans to actively utilise the share buyback tool. By buying back shares, the value for the bank's shareholders increases, as each share receives a larger portion of the profit.

Additionally, by the end of this month, we will pay out record dividends - EUR 0.0485 per share, distributing 43% of the profits from 2023", says Tomas Varenbergas, Head of Investment Management Division at Šiaulių Bankas.

Šiaulių Bankas had already bought back 1,250,000 of its own shares for EUR 0.9 million earlier this year and also applied to the ECB for permission to cancel them.

Šiaulių Bankas announced record profits in 2023, earning over EUR 75 million and achieving a return on equity (RoE) of 15.5%.

The bank will inform separately about the ECB approval for share buyback.

Additional information:
Tomas Varenbergas
Head of Investment Management Division
tomas.varenbergas@sb.lt