Vestas - Share buy-back programme of up to DKK 1,500m (approx. EUR 200m)
15 Agosto 2018 - 1:44AM
Vestas - Share buy-back programme of up to DKK 1,500m (approx. EUR
200m)
Vestas Wind Systems A/S, Aarhus, 15 August
2018 Company
announcement No. 28/2018
Share buy-back programme of up to DKK 1,500m (approx.
EUR 200m)
The Board of Directors of Vestas Wind Systems
A/S has decided to initiate a share buy-back programme of up to DKK
1,500m (approx. EUR 200m) to be executed during the period 15
August 2018 to 28 December 2018.
The share buy-back programme is initiated
pursuant to the authorisation granted to the Board of Directors by
the annual general meeting on 3 April 2018, which authorises Vestas
to acquire treasury shares at a nominal value not exceeding 10
percent of the share capital at the time of the authorisation.
The buy-back will be structured in accordance
with Regulation No. 596/2014 of the European Parliament and of the
Council of 16 April 2014 on market abuse (MAR) and the Commission’s
delegated regulation (EU) 2016/1052 of 8 March 2016 (the "Safe
Harbour” rules).
PurposeThe purpose of the share
buy-back programme is to adjust Vestas’ capital structure and to
meet obligations arising from share-based incentive programmes to
employees of Vestas.
At Vestas' annual general meeting in 2019, a
resolution will be proposed by the Board of Directors that shares
acquired, which are not used for hedging purposes of share-based
incentive programmes, will be cancelled.
Time frameThe share buy-back
programme will run from 15 August 2018 to 28 December 2018.
TermsVestas has appointed
Nordea as lead manager for the share buy-back programme. Nordea
will make its own trading decisions independently of and without
influence or involvement from Vestas.
Under the share buy-back programme, Vestas may
repurchase shares up to a maximum amount of DKK 1,500m, and no more
than 15,614,595 shares, corresponding to 7.6 percent of the share
capital of Vestas Wind Systems A/S.
No shares may be bought back at a price
exceeding the higher of i) the price of the last independent trade
and ii) the highest current independent bid at the trading venue,
on which the purchase is carried out, at the time of trading.
The maximum number of shares that may be
purchased on each trading day may not exceed 25 percent of the
average daily trading volume of shares on the trading venue, on
which the purchase is carried out, over the last 20 trading days
prior to the date of purchase.
Prior to the share buy-back, Vestas holds
4,955,005 treasury shares, equal to 2.4 percent of the share
capital.
Vestas is entitled to suspend or stop the
programme at any time subject to a disclosure of a company
announcement.
On a weekly basis, Vestas will issue an
announcement in respect of transactions made under the
programme.
Contact detailsVestas Wind
Systems A/S, DenmarkPatrik Setterberg, Vice PresidentInvestor
RelationsTel: +45 6122 1913
- 180815_28_Company_Announcement