Lundin Petroleum's Board of Directors has resolved on a share repurchase programme
03 Mayo 2018 - 8:45AM
Lundin Petroleum's Board of Directors has resolved on a share
repurchase programme
Based on the authorisation from the 2018 Annual General
Meeting of Lundin Petroleum AB (Lundin Petroleum), the Board of
Directors resolved on 3 May 2018 to initiate a repurchase
programme.
The maximum number of shares repurchased shall be such that
shares held in treasury from time to time shall not exceed ten
percent of all outstanding shares of the Company. Shares may be
repurchased at one or more occasions up until the AGM in 2019.
The purpose of the repurchase program is to optimise Lundin
Petroleum’s capital structure and to thereby create added value for
the shareholders, to secure Lundin Petroleum’s obligations under
its long-term incentive plans and to cover costs, including social
security charges, that may arise as a result of such incentive
programs.
The repurchase of shares may only take place on NASDAQ Stockholm
and only at a price within the price interval prevailing at any
given time.
Lundin Petroleum currently holds 1,873,310 own shares.
For the complete authorisation, please refer to the Company’s
website www.lundin-petroleum.com
Lundin Petroleum is one of Europe’s leading
independent oil and gas exploration and production companies with
operations focused on Norway and listed on NASDAQ Stockholm (ticker
"LUPE"). Read more about Lundin Petroleum’s business and operations
at www.lundin-petroleum.com
For further information, please contact:
Alex BuddenVP
Communications & Investor RelationsTel: +41 22 595 10
19alex.budden@lundin.ch |
|
Sofia AntunesInvestor
Relations OfficerTel: +41 795 23 60 75sofia.antunes@lundin.ch |
|
Robert ErikssonManager,
Media CommunicationsTel: +46 701 11 26
15robert.eriksson@lundin-petroleum.se |
Forward-Looking Statements
Certain statements made and information contained herein
constitute "forward-looking information" (within the meaning of
applicable securities legislation). Such statements and information
(together, "forward-looking statements") relate to future events,
including the Company's future performance, business prospects or
opportunities. Forward-looking statements include, but are not
limited to, statements with respect to estimates of reserves and/or
resources, future production levels, future capital expenditures
and their allocation to exploration and development activities,
future drilling and other exploration and development activities.
Ultimate recovery of reserves or resources are based on forecasts
of future results, estimates of amounts not yet determinable and
assumptions of management.
All statements other than statements of historical fact may be
forward-looking statements. Statements concerning proven and
probable reserves and resource estimates may also be deemed to
constitute forward-looking statements and reflect conclusions that
are based on certain assumptions that the reserves and resources
can be economically exploited. Any statements that express or
involve discussions with respect to predictions, expectations,
beliefs, plans, projections, objectives, assumptions or future
events or performance (often, but not always, using words or
phrases such as "seek", "anticipate", "plan", "continue",
"estimate", "expect", "may", "will", "project", "predict",
"potential", "targeting", "intend", "could", "might", "should",
"believe" and similar expressions) are not statements of historical
fact and may be "forward-looking statements". Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking
statements. No assurance can be given that these expectations and
assumptions will prove to be correct and such forward-looking
statements should not be relied upon. These statements speak
only as on the date of the information and the Company does not
intend, and does not assume any obligation, to update these
forward-looking statements, except as required by applicable laws.
These forward-looking statements involve risks and uncertainties
relating to, among other things, operational risks (including
exploration and development risks), productions costs, availability
of drilling equipment, reliance on key personnel, reserve
estimates, health, safety and environmental issues, legal risks and
regulatory changes, competition, geopolitical risk, and financial
risks. These risks and uncertainties are described in more detail
under the heading “Risks and Risk Management” and elsewhere in the
Company’s annual report. Readers are cautioned that the foregoing
list of risk factors should not be construed as exhaustive. Actual
results may differ materially from those expressed or implied by
such forward-looking statements. Forward-looking statements are
expressly qualified by this cautionary statement.
- Lundin Petroleum - Repurchase of shares - V5 20180503en