Equinor ASA Initiates Share Buyback Phase with Strong Results

Author: Addison Perry Updated: 10-08-2024 02:18 AM

Equinor ASA's Share Buyback Program Overview

Equinor ASA has recently embarked on the third tranche of its share buyback program for the year 2024. The company, renowned for its significant presence in the energy sector, aims to enhance shareholder value through a systematic repurchase of its own shares. This initiative demonstrates Equinor’s confidence in its financial stability and prospects.

Details of the Buyback Announcement

The announcement for the third tranche took place recently with details specifying that it spans from July to October of the same year. Equinor ASA had previously laid out a clear framework for this share buyback initiative, emphasizing the importance of delivering long-term value to shareholders.

Transaction Summary

Throughout the designated buyback period, significant volumes of shares were acquired. From September 30 to October 4, a staggering 1,687,783 shares were purchased at an average price of NOK 275.3816 each, showing robust market demand for Equinor’s shares. This reflects a strategic move to buy back shares when conditions appear favorable.

Breakdown of Shares Purchased

During this buying phase, notable transactions included acquiring:

On September 30, 350,000 shares at NOK 265.0062
On October 1, 350,000 shares at NOK 266.6117
On October 2, 300,000 shares at NOK 281.9229
On October 3, 400,000 shares at NOK 280.3093
On October 4, 287,783 shares at NOK 284.9977

This series of purchases underlines Equinor’s commitment to optimizing its share capital structure ensuring liquidity and price stability in the marketplace.

Total Buyback Activity

By the end of this transaction period for the third tranche, Equinor ASA had accumulated a total of 44,513,985 shares, which represents about 1.59% of the company’s overall share capital. Excluding shares tied to its employee share savings program, the count stands at 36,325,815 shares, equating to around 1.30% of the equity.

Future Implications for Shareholders

Equinor ASA’s actions reflect a proactive approach towards shareholder engagement and confidence in its operational strategies. The ongoing share buyback plan is poised to enhance earnings per share (EPS), benefitting stakeholders as the company continues to strengthen its balance sheet.

Compliance and Transparency

This information is part of Equinor ASA’s compliance with the regulatory frameworks within the EU Market Abuse Regulation and reflects the company's commitment to transparency. The detailed transaction overview is readily available for shareholders interested in the specifics of this initiative.

Contact for Investor Relations

For investors seeking further clarification or questions, the company offers direct contact avenues. Investor Relations can be reached through Bård Glad Pedersen at +47 918 01 791. For media inquiries, Sissel Rinde is available at +47 412 60 584.

Frequently Asked Questions

What is the purpose of Equinor ASA's share buyback program?

The share buyback program primarily aims to enhance shareholder value by reducing the number of outstanding shares and increasing the value of remaining shares.

How many shares did Equinor buy back recently?

Equinor ASA purchased a total of 1,687,783 shares between September 30 and October 4 during this buyback phase.

What average price did Equinor pay for the shares?

The average price for the shares purchased during this period was NOK 275.3816.

How many total shares does Equinor currently own?

After the recent buybacks, Equinor ASA owns a total of 44,513,985 shares, representing approximately 1.59% of its share capital.

How can investors get more information about the buybacks?

Investors can contact Bård Glad Pedersen in Investor Relations for more detailed information or access the transaction reports publicly available from the company.

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