On 9 June 2022, Grieg Seafood ASA's annual general meeting authorized the board of directors of Grieg Seafood ASA (the "Company") to let the Company acquire its own shares up to an aggregate nominal value of NOK 45,378,817 in accordance with the provisions of section 9 of the Norwegian Public Limited Liability Companies Act. The resolution has been registered with the Norwegian register for business enterprises on 28 June 2022. According to the resolution, the minimum price that can be paid for shares is NOK 4, and the maximum price is NOK 240. The authorization is valid until the earlier of (i) the next annual general meeting and (ii) 30 June 2023.
The Board has now decided to introduce a share buy-back program of up to NOK 30 million starting with immediate effect (the "Share buy-back").
The purpose of the Share buy-back is to re-increase the number of own shares held as the Company has used own shares in connection with its share saving program for employees (e.g. as announced with stock exchange releases on 19 December 2022 and 17 November 2021).
The Company has engaged with a third party who will manage and carry out the share repurchases on the Oslo Stock Exchange Euronext. The third party will make its trading decisions independently of the Company. The Share buy-back will be conducted in accordance with Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation) and Commission Delegated Regulation (EU) No 2016/1052 (Safe Harbour Regulation), as applicable, as well as the Norwegian Securities Trading Act and the Oslo Stock Exchange's Guidelines for buy-back programs and price stabilization February 2021.
The Share buy-back is planned to be finalized by 31 December 2022.
For enquiries, please contact:
Atle Harald Sandtorv, CFO Cell phone +47 908 45 252
About Grieg Seafood
Grieg Seafood ASA is one of the world's leading salmon farmers. Our farms are in Finnmark and Rogaland in Norway, and British Columbia as well as Newfoundland in Canada. Our headquarter is located in Bergen, Norway. Grieg Seafood ASA was listed at the Oslo Stock Exchange in June 2007. More than 750 people work in the company throughout our regions.
Sustainable farming practices are the foundation of Grieg Seafood’s operations. The lowest possible environmental impact and the best possible fish welfare is both an ethical responsibility and drive economic profitability. Towards 2026, we aim for global growth, cost improvements and to evolve from a pure salmon supplier to an innovation partner for selected customers.
To learn more, please visit www.griegseafood.com.
This information is publicly disclosed in accordance with section 5-12 of the Norwegian Securities Trading Act as well as the Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation).
