Nano Dimension Ltd, based in Waltham, Massachusetts, USA, has received approval from the Israeli court to proceed with its previously announced share repurchase plan. This plan was initially approved by the Israeli court in August 2022 and will now continue until October 12, 2023.
Yoav Stern, Chief Executive Officer of the Company, commented, “We continue to fulfil our previous promise to investors, which was temporarily held back due to the time expiration of the Israeli court approval. We thank the court again for its flexibility in extending the Repurchase Plan period. We are happy to act in a way that both improves the company’s balance sheet and benefits its shareholders.”
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The repurchase plan authorises the company’s management to repurchase American Depository Shares (ADSs) from time to time, in open market transactions, and/or in privately negotiated transactions or in any other legally permissible ways. The decision to repurchase will depend on market conditions, share price, trading volume, and other relevant factors.
The company has the option to repurchase all or a portion of the authorised repurchase amount. The Repurchase Plan does not require the company to repurchase any specific number of ADSs and can be suspended or terminated at any time at the company’s discretion.