Cadeler A/S, a prominent provider of offshore wind installation and maintenance services, has initiated a share buy-back program valued at up to NOK 16.5 million (approximately EUR 1.45 million), as announced today. This action follows the authorization granted by Cadeler's shareholders to its Board of Directors during the general meeting on April 23, 2024.
The buy-back is structured to comply with the Market Abuse Regulation and the Safe Harbour Rules of the European Union. The program's objective is to fulfill the obligations to employees under the company's share-based incentive plans.
Set to run from today until July 12, 2024, the program may be halted or concluded earlier if the maximum share quantity or repurchase amount is reached. Cadeler retains the right to suspend or terminate the program at any time.
An independent lead manager will execute the buy-back on behalf of Cadeler, making decisions on the timing of the share repurchases autonomously. The program is capped at NOK 16.5 million, and the maximum number of shares to be acquired is 214,791, each with a nominal value of DKK 1.00.
The price for shares purchased under this program must not exceed the last independent trade's share price or the highest current independent purchase bid. Additionally, daily purchases are restricted to 25% of the average daily volume on the trading venue, based on the 20 trading days prior to the purchase date.
Cadeler, listed on both the Oslo Stock Exchange (ticker: CADLR) and the New York Stock Exchange (ticker: CDLR), is committed to supporting the global transition to renewable energy with a focus on safety and environmental stewardship. This announcement is based on a press release statement.
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