Aqualis ASA

12/06/2019 | Press release | Distributed by Public on 12/06/2019 01:00

Initiation of share buy-back for employee incentive program

Initiation of share buy-back for employee incentive program

(Oslo, 6 December 2019) AqualisBraemar ASA (the 'Company') has resolved to repurchase up to 100,000 shares in the Company for the purpose of meeting the Company's obligations in respect of an employee's share purchase program. The share buy-back program will be carried out pursuant to the authorization granted to the Company's board of directors by the Company's annual general meeting held on 11 June 2019. The purchase period commences today, 6 December 2019, and will end on 31 January 2020. The Company may at any time without further notice close or suspend the program. SpareBank 1 Markets AS is mandated for the execution of this share buy-back program and will make its trading decisions in relation to the Company's shares independently of, and without influence by, the Company with regard to the timing of the purchases. The share buy-back program will be conducted in accordance with Commission Regulation (EC) No. 2273/2003 as regards exemptions for buy-back programmes and stabilization of financial instruments (the 'Safe Harbour rules'), meaning, inter alia, that (i) shares will not be purchased in any one day more than 50% of the average daily volume of Company shares traded in the twenty (20) trading days preceding the day of purchase and (ii) shares will not be bought back at a price higher than the higher of the price of the last independent trade and the highest current independent bid at the Oslo Stock Exchange. The share buy-back program will otherwise be conducted in accordance with the applicable rules and regulations, including the rules of the Oslo Stock Exchange and the Norwegian Securities Trading Act and ancillary regulations. For additional information, please contact: Investors and financial media: Kim Boman, CFO, AqualisBraemar ASA, telephone: +47 959 63 912 Other media enquiries: Endre Johansen, Corporate Communications AS, telephone: +47 41 61 06 05, email: [email protected] This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. About AqualisBraemar ASA AqualisBraemar ASA (OSE: Aqua) offers independent consultancy services to the offshore energy (oil & gas and renewables), shipping and insurance industries. The group employs specialist engineers, naval architects, master mariners, loss adjusters and technical consultants in 33 countries worldwide. AqualisBraemar ASA operates under three brands: • AqualisBraemar: a leading adjusting, marine and offshore consultancy to the energy, shipping and insurance industries. • AqualisBraemar Yacht Services: a specialised marine consultant to the superyacht market. • Offshore Wind Consultants: an independent engineering and project management consultancy to the offshore renewables sector