Norsk Hydro: Status share buyback program
Norsk Hydro ASA has provided an update on its share buyback program, which was announced on September 11, 2024, and is set to conclude on February 28, 2025.
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Rhea-AI Summary
Norsk Hydro ASA has provided an update on its share buyback program, which was announced on September 11, 2024, and is set to conclude on February 28, 2025. The company has reported transactions from September 18 to September 24, 2024, detailing the daily volume of shares purchased and their weighted average prices. The total accumulated shares bought to date under this program amount to 1,902,089, with a total transaction value of NOK 114,919,859.
Prior to the buyback program, Norsk Hydro ASA owned 14,082,505 of its own shares. Following the recent transactions, the company now owns a total of 15,984,594 shares, which corresponds to 0.80% of its share capital. This information is being disclosed in compliance with EU Market Abuse Regulation and Norwegian Securities Trading Act requirements.
Positive
- Execution of share buyback program demonstrates confidence in company's value
- Increase in treasury shares from 14,082,505 to 15,984,594
- Company now owns 0.80% of its own share capital, potentially increasing shareholder value
Negative
- Significant cash outlay of NOK 114,919,859 for share repurchases
Details
News Market Reaction – NHYDY
The recorded move for NHYDY in the trading session of this news was -3.19%.
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Please see below information about transactions made under the share buyback program for Norsk Hydro ASA.
Announcement date of the share buyback program: September 11, 2024
End date of the share buyback program: February 28, 2025
Overview of transactions:
| Date | Aggregated daily volume (number of Shares) | Weighted average share price per day (NOK) | Total daily transaction value (NOK) |
| 18/09/2024 | 208 700 | 60.54 | 12 635 470 |
| 19/09/2024 | 119 300 | 63.09 | 7 527 031 |
| 20/09/2024 | 240 500 | 62.15 | 14 947 700 |
| 23/09/2024 | 240 000 | 61.81 | 14 835 072 |
| 24/09/2024 | 55 000 | 65.47 | 3 600 977 |
| Previous Transactions | 1 038 589 | ||
| Accumulated to date | 1 902 089 | 60.42 | 114 919 859 |
Prior to the share buyback program Norsk Hydro ASA owned a total of 14 082 505 own shares. Following the above listed transactions, Norsk Hydro ASA owns a total of 15 984 594 shares, corresponding to
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.
Investor contact:
Martine Rambøl Hagen
Head of Investor Relations
+47 91708918
Martine.Rambol.Hagen@hydro.com
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.
Attachment
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