Klaveness Combination Carriers ASA initiates share buy-back program
(Oslo 17 March 2020) The Board of Directors (the "Board") of Klaveness Combination Carriers ASA (the "Company") has resolved to initiate a share buy-back program.
The Board has resolved to initiate an acquisition by the Company of up to 100,000 shares under the share buy-back program, for the purposes of acquiring treasury shares which may be used to fulfil the Company's obligations under its current and future incentive programs or for other corporate purposes.
The buy-back program will comply with the safe-harbour regime with respect to share price and purchase volume set out in Commission Regulation (EC) No 2273/2003 of 22 December 2003. The Company may purchase shares up to 50% of the average daily trading volume.
Shares may be purchased both as ordinary market trades over the stock exchange and in privately negotiated transactions.
The buy-back program will be in force until the maximum number of shares as set out above has been acquired, unless the Board resolves to terminate the program at an earlier time.
The buy-back program will be based on the authorisation to acquire treasury shares granted by an extraordinary general meeting of the Company 18 January 2019, in which the Board was authorised to purchase up to 4,051,200 treasury shares at a minimum price of NOK 1 and a maximum price of NOK 75, valid up until the date of the Annual General Meeting in 2020.
For further information, please contact:
Engebret Dahm, CEO, Telephone.: +47 22 52 62 62
