Trasporti
NORDEN initiates share buy-back programme
ANNOUNCEMENT NO. 13 - 7 NOVEMBER 2018
The announcement is attached as a PDF file.
The Board of Directors has decided to carry out a share buy-back of up to a total of USD 10 million (approximately DKK 66 million). The share buy-back programme is initiated pursuant to the authorisation granted to the Board of Directors, which entitles NORDEN to acquire treasury shares at a nominal value not exceeding 10% of the share capital at the market price applicable at the time of acquisition with a deviation of up to 10%. This authorisation was most recently renewed at NORDEN's general meeting on 12 April 2018.
Purpose
The purpose of the share buy-back program is to adjust the capital structure of the Company. A maximum of 4,220,000 shares can be acquired.
Time frame
The share buy-back programme runs from 8 November 2018 up to and including no later than 28 February 2019.
Safe Harbour method
The programme will be structured in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and Commission Delegated Regulation (EU) 2016/1052, (Safe Harbour regulation).
Terms
Kind regards
Dampskibsselskabet NORDEN A/S
Klaus Nyborg
Chairman of the board
For further information:
Martin Badsted, CFO, +45 3315 0451
About NORDEN
Founded in 1871 Dampskibsselskabet NORDEN A/S is an independent shipping company incorporated in Denmark and listed on Nasdaq Copenhagen. NORDEN operates a mix of owned and chartered tonnage. In dry cargo, NORDEN is active in a number of vessel types and is one of the world's largest operators of Supramax and Panamax vessels. In tankers, NORDEN is primarily active in the Handysize and MR product tanker vessel types operated through the 50% owned Norient Product Pool.
Attachment
2321 Rosecrans Avenue. Suite 2200
90245 El Segundo Stati Uniti