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TELENOR ASA

(TEL)
  Report
Real-time Oslo Bors  -  10:29 2022-06-24 am EDT
130.95 NOK   +1.87%
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Buyback of shares to share programs for employees

05/16/2022 | 09:20am EDT
Telenor ASA has today engaged DNB Markets, a part of DNB Bank ASA ("DNB
Markets") to conduct a buyback of own shares to be used in the Company's share
programs in 2022 for management and employees in the Telenor Group.
 
The shares shall be used to meet obligations towards employees who participate
in the Company's long term investment incentive plan (LTI) and the employee
share plan (ESP). The shares will be transferred to the participants promptly
after the buyback has been completed. Shares that are not allocated now, will be
used in later rounds in the share programs.
 
The buybacks in 2022 will be divided into three tranches:
 
Tranche 1 - ESP and LTI shares to be purchased in the period 18th to 24th May
2022. Total amount of approximately NOK 38.4 million. 

Tranche 2 - ESP shares to be purchased in the period 15th to 19th August 2022.
Total amount of approximately NOK 8.8 million.

Tranche 3 - ESP shares to be purchased in the period 14th to 18th November 2022.
Total amount of approximately NOK 8.8 million.


ESP purchases are subject to the following adjustments:
 
- The amount to be invested by ESP-participants outside Norway is defined in
local currency, and the final NOK amount will be determined based on exchange
rates on 6 May, 3 August, and 2 November. 

- The amount will be adjusted downwards to reflect any leavers from the ESP
program. The criteria for the adjustments are predefined in the mandate
agreement with DNB Markets, hence Telenor cannot influence the determination of
the final amount. 

The buyback will be done on basis of authorization granted at Telenor ASA's
Annual General Meeting on 11th May 2021. The authorization is for buyback of up
to 10,000,000 shares to be used in the share programs, at a share price of
minimum NOK 50 and a maximum NOK 250. The authorization has not been utilized to
date, and the Company currently holds 748 treasury shares.
 
For further information, please see the minutes of the AGM and the Annual Report
for 2022, both available at Telenor's website:
https://www.telenor.com/investors/shareholder-centre/annual-general-meeting/annu
al-general-meeting-2022/

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

Stocks mentioned in the article
ChangeLast1st jan.
DNB BANK ASA 0.57% 176 Real-time Quote.-12.87%
TELENOR ASA 1.87% 130.95 Real-time Quote.-5.52%
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Analyst Recommendations on TELENOR ASA
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Financials
Sales 2022 111 B 11 214 M 11 214 M
Net income 2022 12 985 M 1 316 M 1 316 M
Net Debt 2022 104 B 10 518 M 10 518 M
P/E ratio 2022 14,4x
Yield 2022 7,24%
Capitalization 183 B 18 565 M 18 565 M
EV / Sales 2022 2,59x
EV / Sales 2023 2,54x
Nbr of Employees 16 000
Free-Float 46,0%
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Mean consensus HOLD
Number of Analysts 19
Last Close Price 130,95 NOK
Average target price 146,39 NOK
Spread / Average Target 11,8%
EPS Revisions
Managers and Directors
Sigve Brekke President & Chief Executive Officer
Tone Hegland Bachke Chief Financial Officer & Executive VP
Gunn Wærsted Chairman
Ruza Sabanovic Chief Technology Officer & Executive VP
Jon Erik Reinhardsen Director
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