PGS ASA is set to initiate a share buyback program which will occur from August 14 to August 18, covering settlement of performance based restricted stock units granted under the company’s Long Term Incentive Plan for employees.
The buy-back program, which will be for a maximum of 1.6 million PGS shares—or an aggregate amount of up to NOK 13 million—will be conducted in accordance with the authorization to purchase treasury shares given to the Board of Directors by the Company’s Annual General Meeting held in April 2023. The shares purchased under this program will be used in connection with the company’s Long Term Incentive Plan for employees.
The number of shares purchased per day shall not exceed 25% of the average daily trading volume for the 20 days preceding the day of the purchase. DNB Markets AS will carry out the share buyback program on behalf of PGS.
The shares will be bought back in accordance with the requirements in Commission Delegate Regulation (EU) No 2016/1052 of March 8, 2016 and Regulation (EU) No 697/2014.
Recommended Reading
Gunvor Group Inks Purchase Agreement with Texas LNG Brownsville
2024-03-19 - The agreement with Texas LNG Brownsville calls for a 20-year free on-board sale and purchase agreement of 0.5 million tonnes per annum of LNG for a Gunvor Group subsidiary.
CERAWeek: LNG to Play Critical Role in Shell's Future, CEO Says
2024-03-19 - Sawan said LNG will continue to play a critical role adding that LNG currently makes up around 13% of gas sales but was expected to grow to around 20% in the coming 15 to 20 years.
CoolCo, GAIL Enter Long-term LNG Agreement
2024-05-16 - CoolCo and GAIL’s agreement is intended to secure long-term LNG supply in India’s market, with GAIL having an option to extend the 14-year agreement by another two years.
Sempra Targets Summer 2025 for Commercial Start of ECA LNG Phase 1
2024-03-06 - Sempra is targeting the summer of 2025 as the commercial operations date for its 3.25 mtpa (0.43 Bcf/d) nameplate capacity Energía Costa Azul LNG Phase 1 project, located in Ensenada in Baja California, Mexico.
NextDecade Targets Second Half of 2024 for Phase 2 FID at Rio Grande LNG
2024-03-13 - NextDecade updated its progress on Phase 1 of the Rio Grande LNG facility and said it is targeting a final investment decision on two additional trains in the second half of 2024.