Initiation of share buy-back for employee incentive program
AqualisBraemar ASA (the “Company”) has resolved to repurchase up to 100,000 shares in the Company for the purpose of meeting the Company’s obligations in respect of an employee’s share purchase program. The share buy-back program will be carried out pursuant to the authorization granted to the Company’s board of directors by the Company’s annual general meeting held on 11 June 2019.
The purchase period commences today, 6 December 2019, and will end on 31 January 2020. The Company may at any time without further notice close or suspend the program.
SpareBank 1 Markets AS is mandated for the execution of this share buy-back program and will make its trading decisions in relation to the Company’s shares independently of, and without influence by, the Company with regard to the timing of the purchases.
The share buy-back program will be conducted in accordance with Commission Regulation (EC) No. 2273/2003 as regards exemptions for buy-back programmes and stabilization of financial instruments (the “Safe Harbour rules”), meaning, inter alia, that (i) shares will not be purchased in any one day more than 50% of the average daily volume of Company shares traded in the twenty (20) trading days preceding the day of purchase and (ii) shares will not be bought back at a price higher than the higher of the price of the last independent trade and the highest current independent bid at the Oslo Stock Exchange.
The share buy-back program will otherwise be conducted in accordance with the applicable rules and regulations, including the rules of the Oslo Stock Exchange and the Norwegian Securities Trading Act and ancillary regulations.
Investors and financial media
Kim Boman, CFO, AqualisBraemar ASA
Telephone: +47 959 63 912
Other media enquiries
Endre Johansen, Corporate Communications AS
Telephone: +47 41 61 06 05
Email: endre.johansen@corpcom.no
About AqualisBraemar ASA
AqualisBraemar ASA (OSE: Aqua) is a public listed company that, through its subsidiaries and associates, offers adjusting, marine, offshore and renewables consultancy services to the energy, shipping and insurance industries. The group employs specialist engineers, naval architects, master mariners, loss adjusters and technical consultants in 48 offices located across 5 continents in 33 countries. AqualisBraemar ASA operates under three distinct brands globally:
- AqualisBraemar: a leading adjusting, marine and offshore consultancy to the energy, shipping and insurance industries
- AqualisBraemar Yacht Services: a specialised marine consultant to the superyacht market
- Offshore Wind Consultants: an independent consultancy to the offshore renewables sector