Equinor ASA: Buy-back of shares to share programmes for employees
February 08 2023 - 09:50AM
GlobeNewswire Inc.
Equinor ASA (OSE: EQNR, NYSE: EQNR) has on 8 February
2023 engaged a third party to conduct repurchases of the company’s
shares to be used in the share-based incentive programmes for
employees and management for the period from 15 February 2023 until
15 January 2024.
Shares acquired under the buy-back programme in the period from
15 February 2023 to 10 May 2023 is based upon the authorization
from the annual general meeting on 11 May 2022 and registered in
the Norwegian register for business enterprises. According to the
authorization, the maximum number of shares to be purchased in the
market is 15,200,000, the minimum price that can be paid for the
shares is NOK 50, and the maximum price is NOK 1000. Share buyback
after the annual general meeting 2023 is subject to a new
authorization.
The buy-back programme is time-scheduled, and the share
purchases shall take place on specific dates in the period from 15
February 2023 until 15 January 2024 with a determined purchase
amount on each date, as set out in the buy-back programme.
The total purchase amount under the share buy-back programme is
up to NOK 1,535,150,000. The maximum number of shares to be
acquired is 20,000,000 shares, of which up to 12,000,000 shares can
be acquired in the period from 15 February 2023 to 10 May 2023, and
up to 8,000,000 shares can be acquired in the period from 15 June
2023 to 15 January 2024.
The shares shall be used to meet obligations towards employees
who participate in the company’s share saving programme and the
long-term incentive scheme.
Shares will be purchased on the Oslo Stock Exchange. The share
buy-back programme will be conducted in accordance with applicable
safe harbour conditions, and as further set out i.a. in the
Norwegian Securities Trading Act of 2007, EU Commission Regulation
(EC) No 2016/1052 and the Oslo Stock Exchange's Guidelines for
buy-back programmes and price stabilisation February 2021.
Further information from:
Investor relationsBård Glad Pedersen, senior
vice president Investor Relations,+47 918 01 791
MediaSissel Rinde, vice president Media
Relations,+47 412 60 584 (mobile)
This is information that Equinor is obliged to make public
pursuant to the EU Market Abuse Regulation and subject to the
disclosure requirements pursuant to Section 5-12 the Norwegian
Securities Trading Act.
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