Auction Auction results
Auction date 2026-10-06
Start date 2026-10-07
Maturity date 2026-10-14
Interest rate 1.75 %
Offered volume, SEK bn 471.0
Total bid amount, SEK bn 353.9
Accepted volume, SEK bn 353.9
Number of bids 12
Percentage allotted, % 100.00

  • Asset rotation accelerates: €260mn signed YTD at a 17% premium to GAV and a 42% gross margin, including a new €110mn JV – smart capital allocation in action 
  • 2026 on track: Neinor confirms guidance, doubling net income and will pay the remaining c.€80mn dividend (€0.82/sh) in December, increasing shareholder remuneration to c.€280mn, all while integrating AEDAS
  • 2027 raised: EBITDA up 8% to €260–280mn, net income to the high end (€160–170mn) and net debt guidance improved to €800–850mn – c.60% of the c.€250mn dividend is brought forward to 1H27
  • 2028 unveiled: Backed by strong business visibility, Neinor guides to €260–280mn EBITDA, €160–170mn net income, €200–250mn of distributions and net debt down to €550–650mn, taking shareholder returns to c.€555mn (€5.71/sh) over the next two years

Madrid, 5 October 2026 – Neinor Homes (“Neinor” or the “Company”), Spain’s leading residential developer, announces the acceleration of its asset rotation plan, with €260mn signed year-to-date at a 17% premium to GAV and a 42% gross margin. Despite a complex geopolitical and macroeconomic environment, this faster-than-expected execution significantly improves the Company’s cash flow generation profile and de-risks its business plan, with strong visibility not only in 2026 but also over 2027–28. It also allows Neinor to accelerate its 2027 shareholder remuneration while reducing net debt and, as a result, to upgrade the guidance unveiled at its AGM in April 2026.

Acceleration in asset rotation confirms Neinor’s disciplined investment strategy

The €260mn asset rotation plan includes the sale of a €110mn land portfolio to a new joint venture (JV) with Orion Capital Managers, Neinor’s largest shareholder, in which Orion holds a 90% interest and Neinor 10%. The portfolio comprises land not yet in development and not scheduled for delivery in the coming years. The transaction was awarded through a competitive process coordinated by Alantra, an independent adviser, which approached more than 30 investors. Orion submitted the most compelling offer, supported by its deep knowledge of the Spanish residential market.

Neinor monetises land at a premium to the acquisition cost of AEDAS earlier this year, retains exposure to the projects through its 10% equity stake and earns management fees and promote on top. Neinor expects to deliver at least the profits assumed in the business plan, with cash flows brought forward by more than two years. This is the same playbook executed with Joaquín Lorenzo and AXA in 2023, and earlier this year with Río Real and Stoneshield. It confirms the significant value embedded in Neinor’s land bank.

In addition, as part of the €400mn asset rotation plan for 2026–27 and the land bank optimisation strategy, the Company has up to €100mn under negotiation, as it capitalises on a buoyant Spanish residential market and strong appetite from institutional investors to invest alongside Neinor.

A de-risked 2026–28 plan supports strong shareholder returns and faster deleveraging 

Visibility on the business plan has improved significantly throughout the year. Neinor has an excellent forward-sold position, with a record orderbook of over €2bn and 92%, 84% and 38% of 2026, 2027 and 2028 deliveries pre-sold. Construction risk is mitigated, with turnkey contracts already in place for over 70% of 2028 target deliveries. Interest rate risk is hedged across corporate debt and development loans against Euribor above 3%. Altogether, this gives Neinor greater comfort in reiterating its 2026 guidance, lifting 2027 towards the high end of the ranges and extending visibility into 2028, while it continues to further optimise pricing, structure and financial costs.

  • 2026: The closing of the Orion transaction allows Neinor to reiterate its 2026 guidance of €240–260mn EBITDA and €120–140mn net income (€1.23–1.44/sh). The notarisation of Río Real remains pending. 
  • 2027: With improved visibility on the business plan, Neinor raises its 2027 targets towards the high end of its April AGM guidance: €260–280mn EBITDA (previously €240–260mn) and €160–170mn net income (previously €150–170mn), or €1.65–1.75/sh. 
  • 2028: For the first time, Neinor extends its guidance to 2028, with targets broadly in line with 2027 (€260–280mn EBITDA, €160–170mn net income).

Shareholder distributions. Better-than-expected cash flow generation allows Neinor to increase 2026 distributions through the inclusion of the share buyback programme (1.65mn shares to be cancelled) and to bring forward c.60% of the 2027 target. In addition, given the visibility over 2028, Neinor is targeting distributions of €200-250mn in 2028, bringing total distributions over the coming two years to c.€555mn (€5.71/sh). Upcoming payments:

  • 2026: The remaining c.€80mn (€0.82/sh) is expected to be paid in December.
  • 2027: The first two distributions of c.€70mn (€0.72/sh) each, are brought forward to February (1Q27) and April/May (2Q27), accelerating c.60% of the €250mn annual target (€2.58/sh).  

Net debt. Despite accelerating distributions, Neinor expects net debt to decline faster than previously guided. By December 2026, net debt is expected at €1,000–1,100mn, an unchanged range that now absorbs the €50mn total share buyback including management incentive plan (not included in the AGM guidance), and 100% of the full-year dividend target, a like-for-like improvement. By December 2027, net debt is expected at €800–850mn, 6% below the company compiled consensus of €881mn. For 2028, Neinor guides to net debt of €550–650mn, 16% below the consensus of €711mn.

(€mn, unless stated otherwise) 2026
Previous
2026
New2
2027
Previous
2027
New2
2028
          New2
EBITDA¹ 240–260 240–260 240–260 260–280 260–280
Net income¹ 120–140 120–140 150–170 160–170 160–170
EPS (€/sh)¹ 1.21–1.42 1.23–1.44 1.52–1.72 1.65–1.75 1.65–1.75
Shareholder remuneration 250 c.280 250 250 (accelerated) 200–250 
DPS (€/sh) 2.52 2.54 2.58 2.58 2.06–2.58
Net debt  1,000–1,100 1,000–1,100 800–900 800–850 550–650

1. Adjusted for one-off expenses and purchase price allocation (non-cash item). 2. Adjusted by 1.65mn treasury share cancellation

Jordi Argemí, Neinor Homes’ CEO, commented: “The challenge this year could not have been bigger: multiplying revenues, EBITDA and net income by 2x in the very same year we are integrating AEDAS. Yet, barely six months after completing the tender offer, we have de-risked our business plan at an accelerated pace and today we come to the market with a guidance upgrade, faster deleveraging than planned and accelerated returns to our shareholders. Our homework for 2026 is done. We have a very strong team, and from this position of strength we are ready to keep executing flawlessly and to go after the upsides, because complex environments also bring good opportunities.”

Mario Lapiedra, CIO and Deputy CEO of Neinor Homes, added: “With this transaction we are rotating €110mn of land and while keeping a stake in the upside and earning fees as manager. By co-investing alongside Orion and remaining fully aligned as manager and shareholder in the venture, we can bring these projects forward while using our capital more efficiently. Investor decision to back this portfolio reflects the quality of the land we have assembled and the strength of our development platform. Partnerships like this one allow us to maximise ROE and grow with investors who share our long-term view of the Spanish residential market.”

 

For more information

 

NEINOR HOMES

Departamento de Relación con Inversores

investor.relations@neinorhomes.com

 

LLYC

Elena Torres – etorresq@llyc.global

Natalia Guerrero – natalia.guerrero@llyc.global

Attachment

Press Release

Atos positioned as a Leader in cybersecurity solutions and services in the 2026 ISG Provider Lens™ report for France

Paris, France – October 6, 2026 – Atos, a global leader of AI-powered digital transformation, today announced that it has been positioned as a Leader in three strategic segments of the 2026 ISG Provider Lens™ report on cybersecurity solutions and services in France: Next-Gen SOC/MDR Services, Strategic Security Services and Technical Security Services.

Organizations are facing increasingly sophisticated, unpredictable and difficult-to-contain cyberattacks across complex cloud and hybrid environments. Growing regulatory compliance requirements present an additional challenge. In this context, according to ISG, standalone security tools are no longer sufficient, and organizations need to implement a comprehensive cybersecurity strategy. ISG recognizes Atos’ ability to deliver such an approach, based on its expertise in advanced technologies, its knowledge of the regulatory landscape and its operational excellence.

Next-Gen SOC/MDR Services

The report highlights the maturity of Atos’ SOC/MDR services for large enterprises, public-sector organizations and critical infrastructure operators, as well as its position as a sovereign European provider headquartered in France. ISG also emphasizes the scale of Atos’ network of next-generation security operations centers and its ability to combine managed incident response services with OT environments.

“Atos differentiates itself through proven SOC/MDR services with extensive detection, response, remediation and recovery capabilities, including incident response services tailored to large enterprises and public-sector organizations,” said Benoît Scheuber, principal consultant and security analyst at ISG.

Strategic Security Services

ISG recognizes the breadth of Atos’ strategic cybersecurity consulting portfolio. This enables the company to meet the needs of organizations seeking a provider capable of integrating risk, policy, compliance and transformation within a single consulting framework.

“Atos is recognized for its strategic security expertise, combining governance, compliance, resilience and identity management consulting services that are particularly well suited to large organizations operating in highly regulated environments,” added Benoît Scheuber, principal consultant and security analyst at ISG.

Technical Security Services

The report highlights Atos’ ability to deliver technical expertise at scale across environments with demanding criticality and resilience requirements, for both public and private-sector organizations. Atos’ established expertise in identity and access management (IAM), together with its continued investments in this field and in Zero Trust architecture, enables the company to design and deploy end-to-end protection architectures across all types of digital environments.

“Atos differentiates itself through deep technical security expertise, strong capabilities in identity and infrastructure, and a trusted position in complex, highly regulated environments,” said Benoît Scheuber, principal consultant and security analyst at ISG.

Farah Rigal, head of cybersecurity services France, Atos, said: “This positioning recognizes our commitment to anticipating and managing cyber risks, as well as the technological and industry expertise of our teams in strengthening organizations’ protection and resilience. Our services, operated under ANSSI qualifications where needed, address our clients’ needs for continuous compliance, proactive managed detection and response, identity and access protection, and AI-powered operations automation under the supervision of our experts.”

To download the report, please click HERE

***

Atos Group’s cybersecurity services and products

As a global cybersecurity leader with more than 6,500 experts and 205 cybersecurity patents, Atos Group helps organizations navigate the evolving threat landscape with end-to-end, AI-powered security, enabling their pursuit of digital sovereignty and trust.

Cybersecurity services, delivered under the Atos brand, offer an integrated blend of strategic consulting, solution integration and continuous managed security services – spanning the entire security lifecycle. With a global network of 17 security operations centers (SOCs) processing more than 31 billion security events per day and serving over 2,000 trusted customers, Atos cybersecurity services deliver a proactive, globally informed approach to securing operations. Its teams operate with deep industry expertise across all sectors, ensuring robust data protection, regulatory compliance, and business continuity worldwide.

Cybersecurity products, delivered under the Eviden brand, consist of a sovereign portfolio built on three complementary areas of expertise: data encryption, identity and access management, and digital identity.  Developed and manufactured in Europe, Eviden cybersecurity products comply with the highest European certification standards to safeguard sensitive data, secure digital access and protect the identities across users, systems, and connected devices.

***

About Atos

Atos is the Atos Group brand dedicated to AI-powered, secure, end-to-end digital services. Atos designs, develops, and operates critical digital environments that drive performance, resilience and sovereignty, helping public and private organizations worldwide retain control over their data and infrastructures, while meeting regulatory requirements.

With more than 52,000 employees serving over 4,500 clients across 54 countries, Atos helps modernize core IT systems, accelerate cloud and data transformation, strengthen cybersecurity, and deliver secure digital workplace environments to support its clients, its employees and society. Atos also provides consulting and advisory services through its Atos Amplify brand.

A trusted partner in operating complex and mission-critical environments, Atos supports organizations across highly regulated and sovereign contexts.

About Atos Group

Atos Group is a global leader in digital transformation with c. 54,000 employees and annual revenue of c. €7.2 billion, operating in 54 countries under two brands – Atos for services and Eviden for products and systems. European number one in cybersecurity and a leader in cloud, Atos Group is committed to a secure and decarbonized future and provides tailored AI-powered, end-to-end solutions for all industries. Atos Group is listed on Euronext Paris. 

Press contact

Isabelle Grangé | isabelle.grange@atosgroup.com | +33 (0) 6 64 56 74 88

Attachment

Smith+Nephew (LSE:SN, NYSE:SNN), the global medical technology company, today announces that its innovative CARTIHEAL AGILI-C Cartilage Repair Implant is now commercially available in Europe. The CARTIHEAL Implant will take center stage at this week’s International Cartilage Regeneration & Joint Preservation Society (ICRS) Summit in Porto, Portugal from October 8-10.

Introduced by Smith+Nephew in the US during 2024, the CARTIHEAL Implant is rapidly transforming the cartilage repair landscape. Composed of aragonite, a naturally occurring calcium carbonate acting as a biphasic scaffold, the implant is able to repair cartilage, restore bone, and relieve pain.1–5,* These unique properties enable physicians to surgically treat patients who previously had no access to cartilage repair procedures.1,4,5


Click here to play video

Compelling evidence from a multicenter, randomized controlled trial highlighting the clinical superiority of the CARTIHEAL Implant was recently published in the American Journal of Sports Medicine (AJSM). The study concluded that the CARTIHEAL AGILI-C Cartilage Repair Implant resulted in higher overall Knee injury and Osteoarthritis Outcome Scores (KOOS) versus surgical standard of care** for all time points out to 60 months.5

Additionally, the study also found:

  • Superior pain relief: Patients treated with the CARTIHEAL AGILI-C Implant reported significantly better knee pain relief and quality of life improvements over a 5-year period.1,4-6,*
  • Superior functional gains: Patients treated with the CARTIHEAL Implant reported superior improvements in performing activities related to daily living, sport and recreation at 2, 4 and 5-years.1,4-6
  • Patients with/without osteoarthritis (OA): No statistical difference in clinical outcomes found in OA and non-OA patients receiving the CARTIHEAL Implant.4,***

Joaquin Lasso, Smith+Nephew’s SVP and GM of Sports Medicine International commented, “Smith+Nephew is committed to advancing technologies that address meaningful unmet clinical needs. The launch of the CARTIHEAL Implant in Europe brings surgeons an innovative, evidence-backed solution for cartilage repair and reinforces our focus on helping patients achieve better long-term outcomes and return to their active lives.”

“The treatment of cartilage and osteochondral defects continues to be one of the most challenging areas in Orthopedic sports medicine. It is encouraging to see innovative treatment approaches such as the CARTIHEAL AGILI-C Implant becoming available to more surgeons and patients worldwide,” said Dr. Francesca de Caro, Specialist in Orthopedics, Knee, and Hip Surgery at Pavia Hospital in Italy. “Expanding access to new technologies, together with ongoing clinical education and scientific exchange, helps advance our ability to address these complex conditions and improve patient care.”

The CARTIHEAL Implant will first be introduced in Austria, Belgium, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, Switzerland, and the UK, with other countries expected to follow shortly after. To learn more about Smith+Nephew’s CARTIHEAL AGILI-C Cartilage Repair Implant, please visit our booth at ICRS (#2) and view the product webpage here.

– ends –

Media Enquiries
Dave Snyder                +1 (978) 749-1440
Smith+Nephew        david.snyder@smith-nephew.com

* Over 2-, 4-& 5-year follow-up compared to microfracture or debridement

** Compared to debridement or microfracture

*** Overall KOOS improvements at 48 months; KL 0-1 vs 2-3  

References

  1. Altschuler N, Zaslav KR, Di Matteo B, et al. Aragonite-Based Scaffold Versus Microfracture and Debridement for the Treatment of Knee Chondral and Osteochondral Lesions: Results of a Multicenter Randomized Controlled Trial. Am J Sports Med. 2023;51(4):957-967.
  2. Kon E, Di Matteo B, Verdonk P, et al. Aragonite-Based Scaffold for the Treatment of Joint Surface Lesions in Mild to Moderate Osteoarthritic Knees: Results of a 2-Year Multicenter Prospective Study. Am J Sports Med. 2021;49(3):588-598.
  3. Kon E, Filardo G, Shani J, et al. Osteochondral regeneration with a novel aragonite-hyaluronate biphasic scaffold: up to 12-month follow-up study in a goat model. J Orthop Surg Res. 2015;10:81.
  4. Conte P, Anzillotti G, Crawford DC, et al. Differential analysis of the impact of lesions’ location on clinical and radiological outcomes after the implantation of a novel aragonite-based scaffold to treat knee cartilage defects. Int Orthop. 2024;48(12):3117-3126
  5. Altschuler N, Zaslav KR, Di Matteo B, et al. Five-Year Follow-up of a Multicenter Randomized Controlled Trial Comparing an Aragonite-Based Scaffold With Microfracture and Debridement for Chondral and Osteochondral Knee Lesions. The American Journal of Sports Medicine. 2026;54(6):1376-1385
  6. Kon, E., De Caro, F., Dasa, V., M Scopp, J., Di Matteo, B., Flanigan, D., Shabshin, N., Strickland, S., & Altschuler, N. (2025). Female patients report comparable results to males after the implantation of an aragonite-based scaffold for the treatment of knee chondral and osteochondral defects: a gender-based analysis of a RCT at 4 years’ follow-up. J of Ortho and Traumatology, 26(1), 17.

About Smith+Nephew
Smith+Nephew is a portfolio medical technology business focused on the repair, regeneration and replacement of soft and hard tissue. We exist to restore people’s bodies and their self-belief by using technology to take the limits off living. We call this purpose ‘Life Unlimited’. Our 17,000 employees deliver this mission every day, making a difference to patients’ lives through the excellence of our product portfolio, and the invention and application of new technologies across our three global business units of Orthopaedics, Sports Medicine & ENT and Advanced Wound Management.

Founded in Hull, UK, in 1856, we now operate in around 100 countries, and generated annual sales of $6.2 billion in 2025. Smith+Nephew is a constituent of the FTSE100 (LSE:SN, NYSE:SNN). The terms ‘Group’ and ‘Smith+Nephew’ are used to refer to Smith & Nephew plc and its consolidated subsidiaries, unless the context requires otherwise.

For more information about Smith+Nephew, please visit www.smith-nephew.com and follow us on X, LinkedIn, Instagram or Facebook.

Forward-looking Statements

This document may contain forward-looking statements that may or may not prove accurate. For example, statements regarding expected revenue growth and trading profit margins, market trends and our product pipeline are forward-looking statements. Phrases such as “aim”, “plan”, “intend”, “anticipate”, “well-placed”, “believe”, “estimate”, “expect”, “target”, “consider” and similar expressions are generally intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. For Smith+Nephew, these factors include: conflicts in Europe and the Middle East, economic and financial conditions in the markets we serve, especially those affecting healthcare providers, payers and customers; price levels for established and innovative medical devices; developments in medical technology; regulatory approvals, reimbursement decisions or other government actions; product defects or recalls or other problems with quality management systems or failure to comply with related regulations; litigation relating to patent or other claims; legal and financial compliance risks and related investigative, remedial or enforcement actions; disruption to our supply chain or operations or those of our suppliers; competition for qualified personnel; strategic actions, including acquisitions and disposals, our success in performing due diligence, valuing and integrating acquired businesses; disruption that may result from transactions or other changes we make in our business plans or organisation to adapt to market developments; relationships with healthcare professionals; reliance on information technology and cybersecurity; disruptions due to natural disasters, weather and climate change related events; changes in customer and other stakeholder sustainability expectations; changes in taxation regulations; effects of foreign exchange volatility; and numerous other matters that affect us or our markets, including those of a political, economic, business, competitive or reputational nature. Please refer to the documents that Smith+Nephew has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Smith+Nephew’s most recent annual report on Form 20-F, which is available on the SEC’s website at www. sec.gov, for a discussion of certain of these factors. Any forward-looking statement is based on information available to Smith+Nephew as of the date of the statement. All written or oral forward-looking statements attributable to Smith+Nephew are qualified by this caution. Smith+Nephew does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances or in Smith+Nephew’s expectations.

◊ Trademark of Smith+Nephew. Certain marks registered in US Patent and Trademark Office.

Smith+Nephew (LSE: SN, NYSE: SNN) azienda di tecnologia medica, annuncia il lancio commerciale in Europa di CARTIHEAL AGILI-C, l’innovativo impianto per la riparazione della cartilagine. La tecnologia sarà presentata all’International Cartilage Regeneration & Joint Preservation Society (ICRS) Summit, che si terrà a Porto, in Portogallo, dall’8 al 10 ottobre.

Introdotto negli Stati Uniti nel 2024, CARTIHEAL AGILI-C di Smith+Nephew nel panorama della riparazione della cartillagine. Composto da aragonite, un materiale naturale a base di carbonato di calcio, l’impianto agisce come scaffold bifasico favorendo la rigenerazione della cartilagine e dell’osso e contribuendo alleviando il dolore.¹⁻⁵ Questa tecnologia amplia l’accesso alle procedure di riparazione della cartilagine, consentendo di trattare chirurgicamente pazienti che in passato disponevano di opzioni terapeutiche limitate.¹˒⁴˒⁵*

Recentemente pubblicato sull’American Journal of Sports Medicine (AJSM), uno studio multicentrico randomizzato e controllato ha evidenziato la superiorità clinica di CARTIHEAL AGILI-C rispetto allo standard di cura chirurgico. I pazienti trattati con l’impianto hanno registrato punteggi KOOS (Knee injury and Osteoarthritis Outcome Score) complessivamente più elevati durante l’intero periodo di follow-up, fino a 60 mesi dall’intervento.⁵

Click here to play video

Di seguito una traduzione in stile comunicato stampa, mantenendo la struttura e l’enfasi dell’originale:
Inoltre, lo studio ha evidenziato:

  • Maggiore sollievo dal dolore: i pazienti trattati con l’impianto CARTIHEAL◊ AGILI-C◊ hanno riportato una riduzione significativa del dolore al ginocchio e un miglioramento della qualità di vita nel corso di un periodo di follow-up di 5 anni.¹˒⁴⁻⁶˒*
  • Migliori risultati funzionali: i pazienti trattati con l’impianto CARTIHEAL◊ AGILI-C◊ hanno riportato miglioramenti superiori nello svolgimento delle attività della vita quotidiana, sportive e ricreative a 2, 4 e 5 anni dal trattamento.¹˒⁴⁻⁶
  • Pazienti con e senza osteoartrosi (OA): non sono state riscontrate differenze statisticamente significative negli esiti clinici tra i pazienti con osteoartrosi e quelli senza osteoartrosi trattati con l’impianto CARTIHEAL AGILI-C.⁴˒***

Il Senior Vice President e General Manager Sports Medicine International di Smith+Nephew, ha dichiarato:
«Smith+Nephew è impegnata nello sviluppo di tecnologie innovative in grado di rispondere a importanti bisogni clinici ancora insoddisfatti. Il lancio dell’impianto CARTIHEAL AGILI-C  in Europa mette a disposizione dei chirurghi una soluzione innovativa, supportata da evidenze cliniche, per la riparazione della cartilagine e rafforza il nostro impegno nell’aiutare i pazienti a ottenere risultati nel lungo termine e a tornare a una vita attiva.»

La specialista in Ortopedia e Chirurgia del Ginocchio e dell’Anca presso il Pavia Hospital, ha aggiunto:
«Il trattamento dei difetti cartilaginei e osteocondrali continua a rappresentare una delle sfide più impegnative nell’ambito della medicina ortopedica dello sport. È incoraggiante vedere approcci terapeutici innovativi come l’impianto CARTIHEAL AGILI-C diventare disponibili per un numero sempre maggiore di chirurghi e pazienti in tutto il mondo. Ampliare l’accesso alle nuove tecnologie, insieme alla formazione clinica continua e allo scambio scientifico, contribuisce a migliorare la nostra capacità di affrontare queste condizioni complesse e di ottimizzare la cura dei pazienti.»

L’impianto CARTIHEAL AGILI-C sarà inizialmente commercializzato in Austria, Belgio, Francia, Paesi Bassi, Portogallo, Spagna, Svizzera e Regno Unito, con una successiva estensione ad altri Paesi europei prevista nel prossimo futuro.
Per maggiori informazioni sull’impianto per la riparazione della cartilagine CARTIHEAL AGILI-C di Smith+Nephew, è possibile visitare lo stand dell’azienda durante l’ICRS Summit o consultare la pagina dedicata al prodotto.
 Qui.

– ends –

Media Enquiries
Dave Snyder          +1 (978) 749-1440 
Smith+Nephew      david.snyder@smith-nephew.com

* Over 2-, 4-& 5-year follow-up compared to microfracture or debridement

** Compared to debridement or microfracture

*** Overall KOOS improvements at 48 months; KL 0-1 vs 2-3  

References

  1. Altschuler N, Zaslav KR, Di Matteo B, et al. Aragonite-Based Scaffold Versus Microfracture and Debridement for the Treatment of Knee Chondral and Osteochondral Lesions: Results of a Multicenter Randomized Controlled Trial. Am J Sports Med. 2023;51(4):957-967.
  2. Kon E, Di Matteo B, Verdonk P, et al. Aragonite-Based Scaffold for the Treatment of Joint Surface Lesions in Mild to Moderate Osteoarthritic Knees: Results of a 2-Year Multicenter Prospective Study. Am J Sports Med. 2021;49(3):588-598.
  3. Kon E, Filardo G, Shani J, et al. Osteochondral regeneration with a novel aragonite-hyaluronate biphasic scaffold: up to 12-month follow-up study in a goat model. J Orthop Surg Res. 2015;10:81.
  4. Conte P, Anzillotti G, Crawford DC, et al. Differential analysis of the impact of lesions’ location on clinical and radiological outcomes after the implantation of a novel aragonite-based scaffold to treat knee cartilage defects. Int Orthop. 2024;48(12):3117-3126
  5. Altschuler N, Zaslav KR, Di Matteo B, et al. Five-Year Follow-up of a Multicenter Randomized Controlled Trial Comparing an Aragonite-Based Scaffold With Microfracture and Debridement for Chondral and Osteochondral Knee Lesions. The American Journal of Sports Medicine. 2026;54(6):1376-1385
  6. Kon, E., De Caro, F., Dasa, V., M Scopp, J., Di Matteo, B., Flanigan, D., Shabshin, N., Strickland, S., & Altschuler, N. (2025). Female patients report comparable results to males after the implantation of an aragonite-based scaffold for the treatment of knee chondral and osteochondral defects: a gender-based analysis of a RCT at 4 years’ follow-up. J of Ortho and Traumatology, 26(1), 17.

Informazioni su Smith+Nephew
Smith+Nephew è un’azienda globale di tecnologia medica con un portafoglio focalizzato sulla riparazione, rigenerazione e sostituzione dei tessuti molli e ossa. La sua missione è riportare le persone al pieno benessere del loro corpo e della loro fiducia in sé stesse, usando la tecnologia, questo impegno è racchiuso nel concetto di “Life Unlimited”.
Ogni giorno, i circa 17.000 dipendenti portano avanti questa missione, contribuendo a migliorare la vita dei pazienti grazie all’eccellenza del nostro portafoglio prodotti e allo sviluppo ed applicazione di tecnologie innovative delle nostre tre principali aree di business globali: Ortopedia, Medicina dello Sport & ORL (Otorinolaringoiatria) e Advanced Wound Management.
Fondata nel 1856 a Hull, nel Regno Unito, Smith+Nephew è oggi presente in circa 100 Paesi e nel 2025 ha registrato un fatturato annuo di 6,2 miliardi di dollari.
Smith+Nephew fa parte dell’indice FTSE 100 ed è quotata alla London Stock Exchange (LSE: SN) e alla New York Stock Exchange (NYSE: SNN).
Nel presente comunicato, i termini “Gruppo” e “Smith+Nephew” si riferiscono a Smith & Nephew plc e alle sue società controllate consolidate, salvo ove il contesto richieda diversamente.

Per maggiori informazioni su Smith+Nephew, visitare il sito web aziendale all’indirizzo www.smith-nephew.com e seguici su X, LinkedIn, Instagram o Facebook.

Informazioni sulle prospettive future

Il presente documento può contenere informazioni sulle prospettive future che potrebbero rivelarsi accurate oppure no. Ad esempio, le dichiarazioni relative alla crescita prevista dei ricavi e dei margini di profitto operativo, alle tendenze di mercato e alla pipeline dei prodotti costituiscono informazioni sulle prospettive future. Espressioni quali “mirare”, “pianificare”, “intendere”, “prevedere”, “essere ben posizionati”, “credere”, “stimare”, “aspettarsi”, “puntare a”, “considerare” e termini analoghi sono generalmente utilizzati per identificare informazioni sulle prospettive future.
Le informazioni sulle prospettive future comportano rischi noti e ignoti, incertezze e altri fattori rilevanti che potrebbero determinare risultati effettivi significativamente diversi da quelli espressi o impliciti in tali informazioni. Per Smith+Nephew, tali fattori includono, a titolo esemplificativo: conflitti in Europa e in Medio Oriente; condizioni economiche e finanziarie nei mercati in cui operiamo, in particolare quelle che incidono sugli operatori sanitari, sugli enti pagatori e sui clienti; livelli di prezzo dei dispositivi medici consolidati e innovativi; sviluppi della tecnologia medica; approvazioni normative, decisioni in materia di rimborso o altre azioni governative; difetti di prodotto, richiami o altri problemi relativi ai sistemi di gestione della qualità, oppure il mancato rispetto della relativa normativa; contenziosi relativi a brevetti o ad altre rivendicazioni; rischi legali e finanziari legati alla conformità normativa e le relative attività investigative, correttive o sanzionatorie; interruzioni della catena di fornitura o delle attività operative di Smith+Nephew o dei suoi fornitori; concorrenza per l’acquisizione e la fidelizzazione di personale qualificato; iniziative strategiche, comprese acquisizioni e cessioni, nonché la capacità di svolgere con successo attività di due diligence, valutazione e integrazione delle aziende acquisite; interruzioni derivanti da operazioni straordinarie o da altri cambiamenti apportati ai piani aziendali o all’organizzazione per adeguarsi all’evoluzione del mercato; rapporti con i professionisti sanitari; dipendenza dalle tecnologie informatiche e dalla cybersecurity; interruzioni dovute a calamità naturali, eventi meteorologici e fenomeni legati ai cambiamenti climatici; mutamenti nelle aspettative di clienti e altri stakeholder in materia di sostenibilità; modifiche alla normativa fiscale; effetti della volatilità dei tassi di cambio; nonché numerosi altri fattori che influenzano Smith+Nephew o i mercati in cui opera, inclusi fattori di natura politica, economica, commerciale, competitiva o reputazionale.
Per una descrizione più dettagliata di alcuni di questi fattori, si invita a consultare i documenti depositati da Smith+Nephew presso la U.S. Securities and Exchange Commission (SEC) ai sensi dello U.S. Securities Exchange Act del 1934 e successive modifiche, incluso l’ultimo Annual Report sul Form 20-F, disponibile sul sito della SEC all’indirizzo www.sec.gov.
Qualsiasi informazione sulle prospettive future si basa sulle informazioni disponibili a Smith+Nephew alla data in cui viene formulata. Tutte le informazioni sulle prospettive future, scritte o orali, attribuibili a Smith+Nephew sono soggette alle presenti avvertenze. Smith+Nephew non assume alcun obbligo di aggiornare o rivedere alcuna informazione sulle prospettive future per riflettere eventuali cambiamenti delle circostanze o delle aspettative della Società.

◊ Marchio di Smith+Nephew. Alcuni marchi sono registrati presso lo United States Patent and Trademark Office.

Award builds on a longstanding relationship with CBP and creates a multi-year opportunity to modernize and support the agency’s nationwide simulator network

ORLANDO, Fla., Oct. 06, 2026 (GLOBE NEWSWIRE) — VirTra, Inc. (Nasdaq: VTSI) (“VirTra” or the “Company”), a global leader in immersive, simulation-based training solutions for de-escalation, judgmental use of force and weapons proficiency, today announced that U.S. Customs and Border Protection (CBP) has awarded the Company a sole-source contract to maintain, modernize and support VirTra training systems deployed throughout the agency.

The single-award Indefinite Delivery/Indefinite Quantity (IDIQ) contract carries a five-year ordering period and a maximum potential value of $14 million and represents an important opportunity for VirTra to build on its established federal customer base through modernization, technical support and long-term service. The contract ceiling reflects potential value and does not guarantee orders or revenue.

“This is an exciting milestone for VirTra and a meaningful opportunity to build on our longstanding relationship with CBP,” said John Givens, CEO of VirTra. “It demonstrates how the value of our customer relationships can extend well beyond the initial system deployment. As training requirements and technology evolve, we can help customers modernize their systems, preserve their investment in custom content and continue benefiting from VirTra’s technology and support.”

Through the program, VirTra will assess existing CBP simulators and upgrade them to current supported configurations, beginning in the first quarter of 2027. The scope includes hardware modernization, projection system upgrades, software updates, accessory refreshes, preventative maintenance, annual service visits and remote technical support.

The modernization work will preserve compatibility with CBP’s existing training content while providing access to VirTra’s current supported operating environment. This approach allows the agency to advance its training capabilities while retaining the value of its established simulation infrastructure and custom-developed scenarios.

The contract was awarded on a sole-source basis, reflecting VirTra’s ability to sustain and modernize its installed systems while maintaining compatibility with CBP’s existing training environment.

“Supporting the officers and agents who carry out CBP’s mission is a responsibility we take seriously,” Givens added. “We are proud to help keep their training systems current, reliable and ready for use across an extensive geographic footprint. This program brings together the technology, service and customer commitment that are central to VirTra’s business.”

The program will support CBP training operations across the continental United States, Alaska, Hawaii, Puerto Rico, Guam and other U.S. territories.

For VirTra, the award highlights the long-term business opportunity within its installed base. By supporting customers from initial deployment through modernization and ongoing sustainment, the Company can extend customer relationships and pursue additional business as agencies invest in the continued readiness of their training systems.

About VirTra  
VirTra is a global leader in immersive, simulation-based training solutions for de-escalation, judgmental use of force and weapons proficiency. Serving military, law enforcement, military, educational, and commercial organizations, VirTra combines advanced technology, realistic scenarios and proprietary training tools to help users improve decision-making, strengthen readiness and perform more effectively under pressure. Since 1993, VirTra has been committed to its mission of saving lives by preparing professionals for the complex, high-stakes situations they may face in the real world.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” provisions of those sections. Forward-looking statements are generally identified by words such as “anticipates,” “believes,” “expects,” “intends,” “may,” “plans,” “projects,” “will,” “should,” “could,” “predicts,” “potential,” “continue,” “would,” and similar expressions, although not all forward-looking statements contain these identifying words. Forward-looking statements in this release include, but are not limited to, statements regarding the Company’s ability to support customer engagement, program activity, partner collaboration, future operational needs, domestic manufacturing capabilities, national readiness, and the continued advancement and adoption of its simulation training solutions across military and law enforcement markets. Actual results may differ materially from those expressed or implied by these forward-looking statements due to various risks and uncertainties, including those described in the Company’s filings with the Securities and Exchange Commission (“SEC”). These forward-looking statements speak only as of the date of this release. VirTra undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of this release, except as required by law.

Investor Relations Contact: 
Gateway Group, Inc. 
VTSI@gateway-grp.com
949-574-3860 

Company announcement no. 38 – 26
06 October 2026

Transactions in connection with share buy-back program

On 4 March 2026 NTG Nordic Transport Group (“NTG”) announced a share buy-back program, as described in company announcement no. 3 – 26. The program will be executed in accordance with the principles of Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and Commission Delegated Regulation (EU) 2016/1052, also referred to as the Safe Harbor rules.

The purposes of the share buy-back programme are to meet obligations relating to acquisition of minority shareholders’ shares in NTG subsidiaries under the “Ring-the-Bell” concept, cover obligations arising under share-based incentive programmes, and potentially for other purposes such as payment in relation to potential M&A transactions.

During the period, NTG will purchase its own shares for an aggregate maximum amount of DKK 200,000,000, up to 1,250,000 shares (nominally DKK 25,000,000), corresponding to 5.52% of the current share capital of NTG.

The share buy-back programme will run from 5 March 2026 to 9 November 2026 at the latest, both days inclusive.

The following transactions have been made under the share buy-back program:

  Number of shares Average purchase price (DKK) Transaction value (DKK)
Accumulated, latest announcement 769,120   168,999,051
29 September 2026 3,500 284.0 994,000
30 September 2026 1,500 285.5 428,220
01 October 2026 1,034 277.8 287,228
02 October 2026 500 288.2 144,120
05 October 2026 768 289.1 222,005
Accumulated under the program 776,422   171,074,623

With the transactions stated above, NTG owns a total of 1,069,247 treasury shares, corresponding to 4.72% of the current share capital of NTG.

Details of each transaction are included as appendix.

Additional information

For additional information, please contact:

Investor relations & Press:
Sebastian Rosborg
Head of Investor Relations 
& External communications                                   
+45 42 12 80 99
sebastian.rosborg@ntg.com
ir@ntg.com | press@ntg.com

Attachments

Smith+Nephew (LSE: SN, NYSE: SNN), compañía global de tecnología médica, anuncia hoy que su innovador implante de reparación de cartílago CARTIHEAL AGILI-C ya está disponible para su comercialización en Europa. El implante CARTIHEAL ocupará un lugar destacado en el Congreso de la Sociedad International de Regeneración de Cartílago & Preservación Articular (ICRS), que se celebrará en Oporto (Portugal) del 8 al 10 de octubre.

Introducido por Smith+Nephew en Estados Unidos durante 2024, el implante CARTIHEAL está transformando rápidamente el panorama de la reparación del cartílago. Compuesto por aragonito, una forma natural de carbonato cálcico que actúa como un soporte bifásico, el implante permite reparar el cartílago, restaurar el hueso y aliviar el dolor.¹⁻⁵ Gracias a estas características únicas, los cirujanos pueden tratar quirúrgicamente a pacientes que anteriormente no tenían acceso a procedimientos de reparación cartilaginosa.¹˒⁴˒⁵

Recientemente se han publicado en el American Journal of Sports Medicine (AJSM) los resultados de un ensayo clínico multicéntrico y aleatorizado que demuestran la superioridad clínica del implante CARTIHEAL. El estudio concluyó que el implante de reparación de cartílago CARTIHEAL AGILI-C obtuvo mejores resultados globales en la escala KOOS (Knee injury and Osteoarthritis Outcome Score) en comparación con el tratamiento quirúrgico estándar**, en todos los puntos temporales evaluados hasta los 60 meses de seguimiento.⁵

Click here to play video

Además, el estudio también demostró:

  • Mayor alivio del dolor: los pacientes tratados con el implante CARTIHEAL AGILI-C presentaron una reducción significativamente superior del dolor de rodilla y una mejor calidad de vida durante un periodo de seguimiento de 5 años.¹˒⁴⁻⁶
  • Mejoría funcional superior: los pacientes tratados con el implante CARTIHEAL mostraron mejoras significativamente mayores en actividades de la vida diaria, deporte y actividades recreativas a los 2, 4 y 5 años de seguimiento.¹˒⁴⁻⁶
  • Pacientes con y sin artrosis: no se observaron diferencias estadísticamente significativas en los resultados clínicos entre pacientes con artrosis y sin artrosis tratados con el implante CARTIHEAL.⁴

Joaquín Lasso, Vicepresidente Senior y Director General Internacional de Medicina Deportiva de Smith+Nephew, comentó:

“En Smith+Nephew estamos comprometidos con el desarrollo de tecnologías que respondan a necesidades clínicas relevantes aún no cubiertas. El lanzamiento del implante CARTIHEAL en Europa ofrece a los cirujanos una solución innovadora respaldada por evidencia científica para la reparación del cartílago y refuerza nuestro objetivo de ayudar a los pacientes a lograr mejores resultados a largo plazo y volver a una vida activa.”

Por su parte, la Dra. Francesca de Caro, especialista en Cirugía Ortopédica, de Rodilla y Cadera del Hospital Pavia (Italia), señaló:

“El tratamiento de los defectos condrales y osteocondrales sigue siendo uno de los mayores desafíos en la medicina deportiva ortopédica. Es alentador ver cómo enfoques terapéuticos innovadores como el implante CARTIHEAL AGILI-C están cada vez más disponibles para cirujanos y pacientes de todo el mundo. Ampliar el acceso a nuevas tecnologías, junto con la formación clínica y el intercambio científico continuos, contribuye a mejorar nuestra capacidad para abordar estas complejas patologías y optimizar la atención a los pacientes.”

El implante CARTIHEAL se lanzará inicialmente en Austria, Bélgica, Francia, Alemania, Irlanda, Italia, Luxemburgo, Países Bajos, Portugal, España, Suiza y Reino Unido, con una expansión prevista a otros países poco después.

Para obtener más información sobre el implante de reparación de cartílago CARTIHEAL AGILI-C, visite el stand de Smith+Nephew durante el congreso ICRS o consulte la página del producto aquí.

Fin.

Media Enquiries
Dave Snyder         +1 (978) 749-1440 
Smith+Nephew      david.snyder@smith-nephew.com

* Over 2-, 4-& 5-year follow-up compared to microfracture or debridement

** Compared to debridement or microfracture

*** Overall KOOS improvements at 48 months; KL 0-1 vs 2-3  

Referencias

  1. Altschuler N, Zaslav KR, Di Matteo B, et al. Aragonite-Based Scaffold Versus Microfracture and Debridement for the Treatment of Knee Chondral and Osteochondral Lesions: Results of a Multicenter Randomized Controlled Trial. Am J Sports Med. 2023;51(4):957-967.
  2. Kon E, Di Matteo B, Verdonk P, et al. Aragonite-Based Scaffold for the Treatment of Joint Surface Lesions in Mild to Moderate Osteoarthritic Knees: Results of a 2-Year Multicenter Prospective Study. Am J Sports Med. 2021;49(3):588-598.
  3. Kon E, Filardo G, Shani J, et al. Osteochondral regeneration with a novel aragonite-hyaluronate biphasic scaffold: up to 12-month follow-up study in a goat model. J Orthop Surg Res. 2015;10:81.
  4. Conte P, Anzillotti G, Crawford DC, et al. Differential analysis of the impact of lesions’ location on clinical and radiological outcomes after the implantation of a novel aragonite-based scaffold to treat knee cartilage defects. Int Orthop. 2024;48(12):3117-3126
  5. Altschuler N, Zaslav KR, Di Matteo B, et al. Five-Year Follow-up of a Multicenter Randomized Controlled Trial Comparing an Aragonite-Based Scaffold With Microfracture and Debridement for Chondral and Osteochondral Knee Lesions. The American Journal of Sports Medicine. 2026;54(6):1376-1385 Kon, E., De Caro, F., Dasa, V., M Scopp, J., Di Matteo, B., Flanigan, D., Shabshin, N., Strickland, S., & Altschuler, N. (2025). Female patients report comparable results to males after the implantation of an aragonite-based scaffold for the treatment of knee chondral and osteochondral defects: a gender-based analysis of a RCT at 4 years’ follow-up. J of Ortho and Traumatology, 26(1), 17.

Acerca de Smith+Nephew
Smith+Nephew es una compañía de tecnología médica con un amplio portafolio de soluciones centradas en la reparación, regeneración y sustitución de tejidos blandos y estructuras óseas. Nuestra razón de ser es ayudar a restaurar la funcionalidad física y la confianza de las personas mediante el uso de la tecnología para eliminar las limitaciones a la hora de vivir plenamente. A este propósito lo llamamos “Life Unlimited”.
Nuestros 17.000 empleados trabajan cada día para cumplir esta misión, mejorando la vida de los pacientes a través de la excelencia de nuestra cartera de productos y del desarrollo y aplicación de nuevas tecnologías en nuestras tres áreas globales de negocio:

  • Ortopedia
  • Medicina Deportiva y ORL (Otorrinolaringología)
  • Tratamiento Avanzado de Heridas

Fundada en Hull (Reino Unido) en 1856, Smith+Nephew opera actualmente en alrededor de 100 países y alcanzó unas ventas anuales de 6.200 millones de dólares en 2025.
Smith+Nephew forma parte del índice FTSE 100 y cotiza en la Bolsa de Londres (LSE: SN) y en la Bolsa de Nueva York (NYSE: SNN). Los términos “Grupo” y “Smith+Nephew” se utilizan para referirse a Smith & Nephew plc y a sus filiales consolidadas, salvo que el contexto indique lo contrario.

Para obtener más información sobre Smith+Nephew, visite www.smith-nephew.com y síganos en X, LinkedIn, Instagram o Facebook.

Declaraciones Prospectivas
Este documento puede contener declaraciones prospectivas que pueden o no resultar exactas. Por ejemplo, las declaraciones relativas al crecimiento esperado de los ingresos, los márgenes de beneficio operativo, las tendencias del mercado y nuestra cartera de productos en desarrollo constituyen declaraciones prospectivas. Expresiones como “objetivo”, “plan”, “intención”, “anticipar”, “bien posicionados”, “creer”, “estimar”, “esperar”, “meta” o “considerar”, así como otras similares, tienen generalmente como finalidad identificar este tipo de declaraciones.
Las declaraciones prospectivas implican riesgos conocidos y desconocidos, incertidumbres y otros factores relevantes que podrían provocar que los resultados reales difieran de forma significativa de los expresados o implícitos en dichas declaraciones. En el caso de Smith+Nephew, estos factores incluyen, entre otros: los conflictos en Europa y Oriente Medio; las condiciones económicas y financieras de los mercados en los que operamos, especialmente aquellas que afectan a proveedores sanitarios, financiadores y clientes; los niveles de precios de los productos sanitarios establecidos e innovadores; los avances en tecnología médica; las aprobaciones regulatorias, decisiones de reembolso u otras actuaciones gubernamentales; defectos de producto, retiradas del mercado u otros problemas relacionados con los sistemas de gestión de calidad o el incumplimiento de la normativa aplicable; litigios relacionados con patentes u otras reclamaciones; riesgos de cumplimiento legal y financiero, así como investigaciones, medidas correctivas o acciones regulatorias asociadas; interrupciones en nuestra cadena de suministro o nuestras operaciones, o en las de nuestros proveedores; la competencia por personal cualificado; acciones estratégicas, incluidas adquisiciones y desinversiones, así como nuestra capacidad para realizar los procesos de diligencia debida, valoración e integración de los negocios adquiridos; posibles disrupciones derivadas de transacciones u otros cambios en nuestros planes de negocio u organización para adaptarnos a la evolución del mercado; las relaciones con los profesionales sanitarios; la dependencia de las tecnologías de la información y la ciberseguridad; interrupciones derivadas de desastres naturales, fenómenos meteorológicos o eventos relacionados con el cambio climático; cambios en las expectativas de sostenibilidad de clientes y otros grupos de interés; modificaciones en la normativa fiscal; los efectos de la volatilidad de los tipos de cambio; y otras muchas cuestiones que afectan a nuestra compañía o a nuestros mercados, incluidas aquellas de naturaleza política, económica, empresarial, competitiva o reputacional.
Para obtener una descripción más detallada de algunos de estos factores, consulte la documentación presentada por Smith+Nephew ante la Comisión de Bolsa y Valores de Estados Unidos (SEC) de conformidad con la Securities Exchange Act de 1934, según sus modificaciones, incluido el Informe Anual más reciente de Smith+Nephew en el Formulario 20-F, disponible en www.sec.gov.
Cualquier declaración prospectiva se basa en la información disponible para Smith+Nephew en la fecha en que se realiza dicha declaración. Todas las declaraciones prospectivas, ya sean escritas u orales, atribuibles a Smith+Nephew están sujetas a esta advertencia. Smith+Nephew no asume obligación alguna de actualizar o revisar ninguna declaración prospectiva para reflejar cambios en las circunstancias o en las expectativas de la compañía.

◊ Marca registrada de Smith+Nephew. Algunas marcas están registradas en la Oficina de Patentes y Marcas de los Estados Unidos (USPTO).ç

DIRIGIDO EXCLUSIVAMENTE A PROFESIONALES SANITARIOS
PRODUCTO CONFORME A LA NORMATIVA APLICABLE A PRODUCTOS SANITARIOS

Admiral Markets AS (registry code 10932555) is organizing an additional buyback offer for its outstanding Tier 2 bonds issued on 28 December 2017 (ISIN EE3300111251, nominal value EUR 100 per bond, maturity date 28 December 2027, hereinafter the “Bond”) during the period from 8 October 2026 to 29 October 2026 at a price of EUR 103,78 per bond. The value date of the Bond transaction is 2 November 2026 or a date close thereto. 

The buyback offer is directed solely to the current bond investors of Admiral Markets AS (hereinafter the “Investor”). 

Admiral Markets AS hereby announces an additional buyback offer for its subordinated Bonds. The objective of Admiral Markets AS is to provide all remaining Investors with an opportunity to sell their Bonds to Admiral Markets AS prior to the termination of the listing and trading of the Bonds on the Nasdaq Tallinn Stock Exchange. 

On 29 September 2026, the Listing and Surveillance Committee of Nasdaq Tallinn AS decided to approve the termination of the listing and trading of the Bonds subject to, among other conditions, Admiral Markets AS conducting an additional buyback offer before the termination of the listing. Under the conditions established by Nasdaq Tallinn AS, all Investors must be provided with an opportunity to sell their Bonds to Admiral Markets AS for their nominal value, together with accrued interest as of the value date and a premium of EUR 1 per Bond. 

The buyback will take place under the following conditions: 

  • the purchase price is EUR 103,78 per Bond, consisting of the Bond’s nominal value (EUR 100), a premium (EUR 1), and accrued interest as of the value date (EUR 2,78); and  
  • the Bonds must not be encumbered by third-party rights. 

All Investors may offer their Bonds to Admiral Markets AS for repurchase on equal terms. 

To participate in the buyback, the Investor must submit an off-exchange sell order during the submission period through their bank (custodian of the securities account opened with Nasdaq CSD SE) within the relevant corporate action for the Admiral Markets AS Bond, indicating in the sell order the number of Bonds or other information required in the application that the Investor wishes to sell back to Admiral Markets AS under the terms published in this notice. 

The Investor may use any method offered by their custodian for submitting sell orders (e.g. physically at the customer service office of the custodian, online, or otherwise). An Investor’s sell offer is deemed submitted once Nasdaq CSD receives a duly completed sell order from the Investor’s custodian. The Investor has the right to amend or cancel their sell order at any time until the end of the sell order submission period. 

To do so, the Investor must contact the custodian through whom the relevant order was made and complete the procedures required by the custodian for amendment or cancellation of the order. Upon submission of a sell order, the custodian will block the corresponding amount of securities in the Investor’s securities account. The Investor shall bear all costs and fees related to the submission, cancellation, or amendment of the sell order. 

By submitting a sell order, each Investor: 

  • agrees that this notice shall not be considered an offer to conclude a bond repurchase agreement within the meaning of Section 16(1) of the Law of Obligations Act or in any other sense, and that submission of a sell order does not in itself create a binding repurchase agreement between Admiral Markets AS and the Investor; 
  • confirms that the number of Bonds indicated in the sell order is the number of Bonds the Investor wishes to sell to Admiral Markets AS under the terms of the buyback offer; 
  • authorizes the custodian of the Investor’s securities account or Nasdaq CSD to amend the information contained in the Investor’s sell order where necessary for the settlement of the repurchase transaction; 
  • confirms that the Bonds owned by the Investor are not encumbered by third-party rights; 
  • confirms that they: (i) have reviewed the contents of this offer notice; (ii) are aware that the listing and trading of the Bonds on the Nasdaq Tallinn Stock Exchange will be terminated following completion and settlement of the buyback offer in accordance with the decision of Nasdaq Tallinn AS; and (iii) understand the consequences of selling or not selling the Bonds under this offer; and 
  • consents to the exchange of their personal data between custodians, Nasdaq CSD and Admiral Markets AS both during and after the sell order submission period for the purpose of participation in the buyback. 

Summary of Key Terms of the Offer 

The offer period during which Bonds may be sold back to Admiral Markets AS begins on 8 October 2026 at 10:00 and ends on 29 October 2026 at 16:00 (Estonian time). 

The repurchase price for each Bond is EUR 103,78 (of which EUR 100 is the nominal value of the Bond and EUR 1 is the premium, plus accrued interest up to the value date in the amount of EUR 2,78). Only whole-number Bonds may be offered for repurchase. 

An Investor wishing to submit a repurchase order must contact the custodian of their securities account opened in the Estonian Register of Securities. 

IMPORTANT DATES

The timetable below sets out the key dates related to the offer: 

  • 8 October 2026 – Start of the offer period (start of submission of offers to custodians) 
  • 29 October 2026 – End of the offer period (end of submission of offers to custodians) 
  • 30 October 2026 or a date close thereto – Admiral Markets AS publishes the results of the buyback offer 
  • 2 November 2026 or a date close thereto – Settlement date, i.e. the date of transfer of Bond(s) and payment 
  • 3 November 2026 or first possible trading day following completion of settlement – Termination of the listing and trading of the Bonds on the Nasdaq Tallinn Stock Exchange 

For additional information, please contact: 

Anton Tikhomirov 
Member of the Management Board 

Admiral Markets AS 
+37251961122 

Anton.Tikhomirov@admiralmarkets.com 

Admiral Markets AS (registry code 10932555) is organizing an additional buyback offer for its outstanding Tier 2 bonds issued on 28 December 2017 (ISIN EE3300111251, nominal value EUR 100 per bond, maturity date 28 December 2027, hereinafter the “Bond”) during the period from 8 October 2026 to 29 October 2026 at a price of EUR 103,78 per bond. The value date of the Bond transaction is 2 November 2026 or a date close thereto. 

The buyback offer is directed solely to the current bond investors of Admiral Markets AS (hereinafter the “Investor”). 

Admiral Markets AS hereby announces an additional buyback offer for its subordinated Bonds. The objective of Admiral Markets AS is to provide all remaining Investors with an opportunity to sell their Bonds to Admiral Markets AS prior to the termination of the listing and trading of the Bonds on the Nasdaq Tallinn Stock Exchange. 

On 29 September 2026, the Listing and Surveillance Committee of Nasdaq Tallinn AS decided to approve the termination of the listing and trading of the Bonds subject to, among other conditions, Admiral Markets AS conducting an additional buyback offer before the termination of the listing. Under the conditions established by Nasdaq Tallinn AS, all Investors must be provided with an opportunity to sell their Bonds to Admiral Markets AS for their nominal value, together with accrued interest as of the value date and a premium of EUR 1 per Bond. 

The buyback will take place under the following conditions: 

  • the purchase price is EUR 103,78 per Bond, consisting of the Bond’s nominal value (EUR 100), a premium (EUR 1), and accrued interest as of the value date (EUR 2,78); and  
  • the Bonds must not be encumbered by third-party rights. 

All Investors may offer their Bonds to Admiral Markets AS for repurchase on equal terms. 

To participate in the buyback, the Investor must submit an off-exchange sell order during the submission period through their bank (custodian of the securities account opened with Nasdaq CSD SE) within the relevant corporate action for the Admiral Markets AS Bond, indicating in the sell order the number of Bonds or other information required in the application that the Investor wishes to sell back to Admiral Markets AS under the terms published in this notice. 

The Investor may use any method offered by their custodian for submitting sell orders (e.g. physically at the customer service office of the custodian, online, or otherwise). An Investor’s sell offer is deemed submitted once Nasdaq CSD receives a duly completed sell order from the Investor’s custodian. The Investor has the right to amend or cancel their sell order at any time until the end of the sell order submission period. 

To do so, the Investor must contact the custodian through whom the relevant order was made and complete the procedures required by the custodian for amendment or cancellation of the order. Upon submission of a sell order, the custodian will block the corresponding amount of securities in the Investor’s securities account. The Investor shall bear all costs and fees related to the submission, cancellation, or amendment of the sell order. 

By submitting a sell order, each Investor: 

  • agrees that this notice shall not be considered an offer to conclude a bond repurchase agreement within the meaning of Section 16(1) of the Law of Obligations Act or in any other sense, and that submission of a sell order does not in itself create a binding repurchase agreement between Admiral Markets AS and the Investor; 
  • confirms that the number of Bonds indicated in the sell order is the number of Bonds the Investor wishes to sell to Admiral Markets AS under the terms of the buyback offer; 
  • authorizes the custodian of the Investor’s securities account or Nasdaq CSD to amend the information contained in the Investor’s sell order where necessary for the settlement of the repurchase transaction; 
  • confirms that the Bonds owned by the Investor are not encumbered by third-party rights; 
  • confirms that they: (i) have reviewed the contents of this offer notice; (ii) are aware that the listing and trading of the Bonds on the Nasdaq Tallinn Stock Exchange will be terminated following completion and settlement of the buyback offer in accordance with the decision of Nasdaq Tallinn AS; and (iii) understand the consequences of selling or not selling the Bonds under this offer; and 
  • consents to the exchange of their personal data between custodians, Nasdaq CSD and Admiral Markets AS both during and after the sell order submission period for the purpose of participation in the buyback. 

Summary of Key Terms of the Offer 

The offer period during which Bonds may be sold back to Admiral Markets AS begins on 8 October 2026 at 10:00 and ends on 29 October 2026 at 16:00 (Estonian time). 

The repurchase price for each Bond is EUR 103,78 (of which EUR 100 is the nominal value of the Bond and EUR 1 is the premium, plus accrued interest up to the value date in the amount of EUR 2,78). Only whole-number Bonds may be offered for repurchase. 

An Investor wishing to submit a repurchase order must contact the custodian of their securities account opened in the Estonian Register of Securities. 

IMPORTANT DATES

The timetable below sets out the key dates related to the offer: 

  • 8 October 2026 – Start of the offer period (start of submission of offers to custodians) 
  • 29 October 2026 – End of the offer period (end of submission of offers to custodians) 
  • 30 October 2026 or a date close thereto – Admiral Markets AS publishes the results of the buyback offer 
  • 2 November 2026 or a date close thereto – Settlement date, i.e. the date of transfer of Bond(s) and payment 
  • 3 November 2026 or first possible trading day following completion of settlement – Termination of the listing and trading of the Bonds on the Nasdaq Tallinn Stock Exchange 

For additional information, please contact: 

Anton Tikhomirov 
Member of the Management Board 

Admiral Markets AS 
+37251961122 

Anton.Tikhomirov@admiralmarkets.com 

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