AKVA group ASA (AKVA: Oslo) has decided to initiate a time limited share buyback program for up to 200,000 shares.
The buyback program will be carried out by market purchases in accordance with the annual general meeting decision made by the board of directors on May 7th 2015.
The buyback will be executed according to the market price on the Oslo Stock Exchange and the maximum aggregate amount to be paid for shares acquired under the buyback program which is NOK 10 million, or $11,920 US.
The program ends on Nov. 30, 2015, according to company executives. AKVA group may at any time without further notice close or suspend the program and the shares purchased under the program will be used for the company’s stock and incentive programs for the company’s own employees.
The maximum number of shares which may be purchased in any one day is limited to 50% of the average daily volume of AKVA group shares traded in the 20 trading days preceding the day of purchase.
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