Bifogade filer
Moreld ASA: Initiation of share buy-back programme
Prenumeration
Beskrivning
| Land | Norge |
|---|---|
| Lista | Oslo Bors |
| Sektor | Tjänster |
| Industri | Shipping & Offshore |
Reference is made to the stock exchange announcement made by Moreld ASA (the "Company" or "Moreld") on 8 July 2025 regarding the launch of an offer to repurchase up to 2,000,000 shares (the "Offer") and the intension to launch a share buy-back programme following completion of the Offer in order to repurchase a combined amount of up to approximately 5 million shares. On 10 July 2025, the Offer was completed and the Company resolved to buy back 1,856,000 shares.
Following completion of the Offer, Moreld has decided to initiate a non-discretionary share buy-back programme for up to 3,144,000 existing shares in Moreld, equivalent to approximately 1.75% of Moreld's shares in issue, for a maximum aggregate amount of up to NOK 43 million (the "Buy-back Programme"). The Buy-back Programme was adopted based on an authorisation granted to the board of directors of Moreld by the annual general meeting held on 20 May 2025.
The purpose of the Buy-back Programme is to enable the Company to meet its obligations under any applicable employee share incentive programme implemented and/or to repurchase shares for amortization. Any shares purchased by the Company will be held in treasury until used for the aforementioned purposes.
Moreld has appointed SpareBank 1 Markets AS ("SB1M") for the repurchase of the Company's shares. SB1M will manage the programme and make its own trading decisions independently of, and uninfluenced by, Moreld.
The Buy-back Programme will commence on 11 July 2025 and continue until the maximum number of shares as set out above has been acquired or 31 December 2025 at the latest.
Moreld will publicly announce information about the transactions relating to the Buy-back Programme, in a detailed form and in an aggregate form, no later than by the end of the seventh trading day following the execution of such transactions. The share Buy-back Programme will be carried out in accordance with Regulation (EU) No 596/2014 (the "Market Abuse Regulation") and Commission Delegated Regulation (EU) No 2016/1052 (the "Safe Harbour Regulation").
Moreld currently has a total of 179,555,119 shares in issue, of which it holds 1,856,000 shares in treasury after completion of the Offer.
The Company reserves the right to make subsequent changes to the above terms for the Buy-back Programme and will in such case make appropriate announcements in this respect.
This information is subject to the disclosure requirements pursuant to article 5 of Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 of the Norwegian Securities Trading Act.
For more information, please contact:
CEO Geir Austigard
Telephone: +47 992 47 500
Email: Geir.austigard@moreld.com
CFO Trond Rosnes
Telephone: +47 404 14 494
Email: Trond.rosnes@moreld.com
About Moreld
Moreld is an industrial multi-disciplinary engineering group offering full-scope services across the offshore energy and marine industries, including subsea installations. The group comprises Moreld Apply, Ocean Installer and Global Maritime. Moreld is a major player on the Norwegian continental shelf with an international footprint. The Group is located in 19 countries, giving access to all major offshore markets, and has over 2,800 employees and
contractors. For more information, please visit https://moreld.com/.