Initiation of a share buyback for Employee Share Purchase Programme
05/16/2022 | 12:06pm EDT
Oslo, 16 May 2022: Scatec ASA (“Scatec” or the “Company“) has decided to initiate a buyback of up to 89,200 of its own shares for a total maximum amount of NOK 13,380,000. The buyback programme may be carried out in the period from this announcement and until 24 May 2022.
The purpose of the programme is to acquire shares that can be sold to employees as part of the Company’s Employee Share Purchase Programme as announced in the stock exchange announcement published 9 May 2022 at 08.00 (CEST) in compliance with the EU Market Abuse Regulation article 5, and as approved by the General Meeting of the Company.
The Company has engaged DNB Bank ASA to carry out the buyback. The buybacks will be made in accordance with the authorisation granted to the Board of Directors by the Company’s Annual General Meeting held on 29 April 2022. According to the authorisation, up to 1,131,004 shares may be purchased at a minimum of NOK 1 and a maximum of NOK 1,000 per share. The authorisation is valid until the Annual General Meeting in 2023, however no later than 30 June 2023.
All acquisitions under the buyback programme will be executed on Euronext Oslo Børs. The execution of any repurchases will depend on market conditions, the buyback programme may be discontinued at any time and the Company may resolve to terminate the buyback programme before the threshold set out above is reached.
Scatec does not hold any own shares as of the date of this announcement.
For further information, please contact: Andreas Austrell, VP Investor Relations, email@example.com
About Scatec Scatec is a leading renewable energy solutions provider, accelerating access to reliable and affordable clean energy in high growth markets. As a long-term player, we develop, build, own and operate renewable energy plants, with 3.5 GW of installed capacity across four continents today. We are targeting 15 GW of renewable capacity to be in operation or under construction by the end of 2025, delivered by our 600 passionate employees who are driven by a common vision of ‘Improving our Future’. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SCATC’. To learn more, visit www.scatec.com or connect with us on LinkedIn.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act