Vopak Announces Share Buyback Program to Return Up to EUR 300 Million to Shareholders
02.14.2024 By Tank Terminals - NEWS

February 14, 2024 [Vopak]- Vopak announces the start of a share buyback program to return up to EUR 300 million to shareholders.

 

The share buyback program will start 15 February 2024 and will run until the end of 2024, barring unforeseen circumstances. Vopak will cancel these shares subject to the relevant board and shareholder approvals. The share buyback program will be executed pursuant to the safe harbour of the Market Abuse Regulation and under the existing authority granted at the 2023 Annual General Meeting on 26 April 2023, and, subsequently, the authority (if granted) by the 2024 Annual General Meeting on 24 April 2024. Under these limits the share buyback program shall not exceed 10% of Vopak’s issued capital.

The share buyback program will be executed by an independent intermediary, allowing the execution of open market transactions during open and closed periods.

Vopak confirms the absence of any agreement with its existing shareholders regarding their potential participation in the share buyback program.

The share buyback program is separate from any share transactions Vopak may execute to cover obligations under the long term incentive programs for employees.

Vopak will provide weekly updates on the progress of the share buyback program through press releases and transaction details on Vopak’s website for the duration of the program.

This press release contains inside information as meant in clause 7 of the Market Abuse Regulation.

 

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