Equinor ASA Launches Share Buy-Back Program
Equinor ASA (OSE:EQNR, NYSE:EQNR) has officially kicked off the third tranche of its share buy-back program for 2024, reaffirming its dedication to delivering value to its shareholders. This important initiative commenced on July 25, 2024, and is anticipated to wrap up by October 22, 2024. This strategic decision highlights Equinor's commitment to managing its capital effectively while boosting returns for its shareholders.
Buy-Back Transaction Details
Between August 26 and August 30, 2024, Equinor ASA made significant purchases of its own shares. The company acquired a total of 1,500,000 shares at an average price of NOK 284.8558 each. This proactive approach showcases Equinor's strategy to adjust its share base in response to market conditions.
Summary of Recent Transactions
Here’s a brief overview of the equity transactions conducted during the third tranche in October:
- On August 26, Equinor purchased 300,000 shares at NOK 284.5542.
- On August 27, the company acquired another 300,000 shares at NOK 287.3218.
- On August 28, Equinor bought an additional 300,000 shares at NOK 285.2188.
- On August 29, the company procured 300,000 shares at NOK 282.3921.
- Finally, on August 30, Equinor completed another transaction for 300,000 shares at NOK 284.7921.
This systematic approach to share acquisition reflects a strategic effort to bolster shareholder confidence and underscores the company's strong financial position.
Total Shares Owned After Buy-Backs
Following the recent buy-back transactions, Equinor ASA now owns a total of 36,351,631 of its own shares, which accounts for approximately 1.30% of the company’s total share capital. Excluding shares held in Equinor’s share savings program, this number drops to 28,438,032 shares, or about 1.02% of the total capital.
Commitment to Market Transparency and Regulations
Equinor ASA continues to prioritize transparency. The company is required to disclose this information under the EU Market Abuse Regulation, ensuring compliance with the Norwegian Securities Trading Act. These disclosures are vital for maintaining market integrity and keeping shareholders well-informed.
Contact Equinor for More Information
If you have any questions regarding the buy-back program or related topics, please 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 is designed to return capital to shareholders, enhance shareholder value, and effectively manage the company's capital structure.
How many shares has Equinor repurchased in this tranche?
Equinor has repurchased a total of 1,500,000 shares during the current tranche of its buy-back program.
What is the average price per share for the buy-back?
The average price for the shares repurchased in this tranche is NOK 284.8558.
How does this initiative impact shareholders?
The buy-back program generally leads to an increase in earnings per share (EPS) and enhances the value of the remaining shares, benefiting existing shareholders.
Who should I contact for more inquiries about Equinor?
For additional information, you can reach out to Bård Glad Pedersen for investor relations or Sissel Rinde for media inquiries using the contact details provided.
