The board of Norsk Hydro ASA has determined to determine a program for getting again personal shares to serve the corporate’s shareholders by decreasing the corporate’s share capital. The share buyback program is in accordance with the authorization given to the board on the extraordinary common assembly today techs on 20 September 2022.
The buyback program covers the acquisition of a most of 100,000,000 shares within the firm for as much as NOK 2 billion, together with redemption of shares from the Norwegian state. NOK 2 billion is roughly 1.6% of the market worth of the corporate’s shares at at this time’s share value. The buyback program will begin on 26 today techs September 2022, and is deliberate to be accomplished by 29 March today techs 2023, whereas the authorization is legitimate till 20 September 2023. All shares which can be purchased as a today techs part of this system will likely be deleted when a capital discount is carried out in Norsk Hydro, topic to approval in Norsk Hydro’s common assembly.
The minimal and most quantity that may be paid per share shall be NOK 20 and NOK 150 respectively.
Norsk Hydro has entered into an settlement with the Norwegian state which entails the professional rata redemption of the Norwegian state’s shares, in order that the state’s possession stake in Norsk Hydro will stay unchanged after the shares have been deleted.
Norsk Hydro has engaged DnB Markets, a part of DNB Financial institution ASA, to hold out the buybacks out there. DNB Markets will perform the trades independently and unaffected by Norsk Hydro.
The buyback program is carried out in accordance with the EU’s Market Abuse Regulation (Market Abuse Regulation (EU) No 596/2014, additionally known as “MAR”) and Fee Delegated Regulation (EU) 2016/1052 (“Protected Harbor Regulation”).
That is info that’s made public in keeping with Norsk Hydro’s info obligation in accordance with the EU’s Market Abuse Regulation and necessities in accordance with the Norwegian Securities Buying and selling Act § 5-12.
Head of Investor Relations