Equinor ASA Announces Third Tranche of Share Buy-Back Plan
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Equinor ASA Highlights Share Buy-Back Program
Equinor ASA (OSE:EQNR, NYSE:EQNR) has launched the third tranche of its 2024 share buy-back program, reaffirming its commitment to returning value to shareholders. This significant initiative began on July 25, 2024, and is expected to conclude by October 22, 2024. This strategic move reflects Equinor's ongoing efforts to manage its capital efficiently while enhancing shareholder returns.
Details of the Buy-Back Transactions
From August 26 to August 30, 2024, Equinor ASAT made substantial purchases of its own shares. The company bought a total of 1,500,000 shares at an average price of NOK 284.8558 each. This demonstrates Equinor's proactive approach in adjusting its share base in alignment with market conditions.
Overview of Recent Transactions
Below is a summary of equity transactions under the third tranche for October:
- On August 26, Equinor acquired 300,000 shares at NOK 284.5542.
- On August 27, the company again bought 300,000 shares, this time at NOK 287.3218.
- On August 28, another 300,000 shares were purchased at NOK 285.2188.
- On August 29, Equinor procured 300,000 shares at NOK 282.3921.
- Finally, on August 30, the company completed another 300,000 share transaction at NOK 284.7921.
This systematic acquisition indicates a strategic effort to reinforce shareholder confidence and demonstrate the company's robust financial health.
Total Shares Owned Following Buy-Backs
As a result of the recent buy-back transactions, Equinor ASA now holds a total of 36,351,631 of its own shares. This represents approximately 1.30% of Equinor’s total share capital. Notably, when excluding shares in Equinor’s share savings program, this figure lowers to 28,438,032 shares, or about 1.02% of the capital.
Market Transparency and Regulations
Equinor ASA's commitment to transparency remains steadfast. The company is mandated to make this information public under the EU Market Abuse Regulation, maintaining compliance with the Norwegian Securities Trading Act. Such disclosures are essential for maintaining market integrity and ensuring shareholders are well informed.
Contact Equinor for More Information
For further inquiries regarding the buy-back program and other related matters, interested parties can reach out to:
Investor Relations
Bård Glad Pedersen, Senior Vice President, Investor Relations
Contact: +47 918 01 791
Media Relations
Sissel Rinde, Vice President, Media Relations
Contact: +47 412 60 584
Frequently Asked Questions
What is the purpose of Equinor's share buy-back program?
The share buy-back program aims to return capital to shareholders, enhance shareholder value, and manage the company's capital structure effectively.
How many shares has Equinor repurchased in this tranche?
Equinor has repurchased a total of 1,500,000 shares in the current tranche of its buy-back program.
What is the average price per share for the buy-back?
The average price for the repurchased shares in this tranche is NOK 284.8558.
How does this initiative impact shareholders?
The buy-back program typically improves earnings per share (EPS) and elevates the value of the remaining shares, benefitting existing shareholders.
Who should I contact for more inquiries about Equinor?
For further information, you can contact Bård Glad Pedersen for investor relations or Sissel Rinde for media inquiries based on the contact details provided.
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