Norsk Hydro: Market part of Hydro`s 2023-2024 share buyback program finalized

Rhea-AI Summary

Hydro completed the open market repurchase of the 2023-2024 buyback program, involving a total of 32,192,623 shares, with 21,163,019 shares repurchased in the market. The remaining 11,029,604 shares will be bought from the Norwegian state, maintaining the Ministry's ownership interest in Norsk Hydro ASA at 34.26%. The repurchased shares will be cancelled after approval by the Annual General Meeting in May 2024. The average price for the repurchased shares was NOK 62.13.

 On January 31, 2024, Hydro finalized the open market repurchase of the 2023-2024 buyback program as announced on September 22, 2023.

The total program comprises 32 192 623 shares, of which 21 163 019 shares were repurchased in the market. The remaining 11 029 604 shares will be purchased from the Norwegian state through the Ministry of Trade, Industry and Fisheries, and therefore the Ministry's ownership interest in Norsk Hydro ASA of 34.26% will remain unchanged.

The 32 192 623 shares will be cancelled following approval by the Annual General Meeting in May 2024. The shares that have been repurchased in the open market have had an immediate cash effect, whereas the pro rata shares from the Norwegian state will be paid simultaneously with the capital reduction in mid-2024.

The weighted average price for the 21 163 019 shares was NOK 62.13.  

Please see below information about the last transactions made under the share buyback program for Norsk Hydro ASA.

Overview of transactions:

Date	Aggregated daily volume (number of Shares)	Weighted average share price per day (NOK)	Total daily transaction value (NOK)
31.1.24	180 747	61.86	11 181 281
Previous transactions	20 982 272
Accumulated to date	21 163 019	62.13	1 314 799 977

Prior to the share buyback program Norsk Hydro ASA owned a total of 15 096 878 own shares. Following the above listed transactions, Norsk Hydro ASA owns a total of 36 259 897 shares, corresponding to 1.78% of Norsk Hydro ASA's share capital.

Attachment: An overview of all the completed transactions under the program for the dates specified above is attached to this notification and available on www.newsweb.no.

This is information that Norsk Hydro ASA is obliged to make public pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

Investor contact:

Martine Rambøl Hagen
Head of Investor Relations
+47 91708918

Martine.Rambol.Hagen@hydro.com 

Attachment

• 2024 01 31_Daily Buyback Report

FAQ

What is the total number of shares in the buyback program?

The total buyback program comprises 32,192,623 shares.

How many shares were repurchased in the market?

21,163,019 shares were repurchased in the market.

What is the ownership interest of the Norwegian state in Norsk Hydro ASA?

The Norwegian state will maintain an ownership interest of 34.26% in Norsk Hydro ASA.

When will the repurchased shares be cancelled?

The repurchased shares will be cancelled after approval by the Annual General Meeting in May 2024.

What was the average price for the repurchased shares?

The weighted average price for the repurchased shares was NOK 62.13.