NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES.
VOW ASA ("VOW" or the "Company") has decided to initiate a share buy-back programme for own shares for up to NOK 25,000,000. Up to 1,000,000 shares may be acquired in a period from 15.03.2022 to 16.05.2022.
The purpose of the programme is to (i) fulfil its obligations arising from employee share option programs and (ii) if required, deliver consideration shares to C. H. Evensen Holding AS in respect of Scanship AS' acquisition of the shares in C. H. Evensen Industriovner AS, as further described in the Company's announcement dated 15 March 2022. Scanship AS is a wholly owned subsidiary of the Company.
VOW has on 15 March 2022 put in place a non-discretionary agreement with SpareBank 1 Markets AS for the repurchase of the Company's shares in the open market. Under this agreement, SpareBank 1 Markets AS will manage the programme and make its own trading decisions independently of, and uninfluenced by, VOW.
VOW will publicly announce information about the transactions relating to the buy-back programme, in a detailed form and in an aggregated form, no later than by the end of the seventh trading day following the date of execution of such transactions. The aggregated form will indicate the aggregated volume and the weighted average price per day and per trading venue. The information will also be posted on the Company's website.
The basis for the programme is the authorisation given to VOW's board of directors by the Company's annual general meeting on 14 May 2021. The authorisation is valid until the annual general meeting for 2022, but no later than 30 June 2022.
The buy-back programme will be completed in accordance with Regulation (EU) 596/2014 and Regulation (EU) 2016/1052, with the exception that the purpose of the programme is as stated above.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act and article 5 of the EU Market Abuse Regulation.
For further information, please contact:
Erik Magelssen, CFO
Vow ASA
Tel: +47 928 88 728
Email: erik.magelssen@vowasa.com
About Vow ASA
Vow and its subsidiaries Scanship and Etia are passionate about preventing pollution. The company’s world leading solutions convert biomass and waste into valuable resources and generate clean energy for a wide range of industries.
Cruise ships on every ocean have Vow technology inside which processes waste and purifies wastewater. Fish farmers are adopting similar solutions, and public utilities and industries use our solutions for sludge processing, waste management and biogas production on land.
With advanced technologies and solutions, Vow turns waste, biomass, plastics and polymers into recycled advanced carbon materials, low carbon fuels, chemicals, and climate neutral gas for industries to reduce their dependence on fossil energy and petroleum products. The solutions are scalable, standardised, patented, and thoroughly documented, and the company’s capability to deliver is well proven. They are key to end waste and stop pollution.
Located in Oslo, the parent company Vow ASA is listed on the Oslo Stock Exchange (ticker VOW).
The offer contemplated hereby and the distribution of this announcement and other information in connection with the offer may be restricted by law in certain jurisdictions, and the buyback is not made in any jurisdiction in which this would be unlawful, require registration or other measures.
Neither VOW ASA nor SpareBank 1 Markets AS assume any responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.
The offer is not being made directly or indirectly in, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of, or any facilities of a national securities exchange of, the United States, its territories and possessions, any State of the United States and the District of Columbia (the “United States”). This includes, but is not limited to, facsimile transmission, internet delivery, e-mail, telex and telephones. Accordingly, copies of this release and any related documents are not being, and must not be, mailed, e-mailed or otherwise distributed or sent in or into the United States and so doing may invalidate any purported acceptance.
