Telenor ASA (OB:TEL) commences an Equity Buyback Plan for 10,000,000 shares, representing 0.72% of its issued share capital, under the authorization approved on May 10, 2023.
March 11, 2024 at 04:15 pm EDT
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Telenor ASA (OB:TEL) commences share repurchases on March 4, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 10, 2023. As per the mandate, the company is authorized to repurchase up to 10,000,000 shares, representing 0.72% of its share capital. The minimum price payable for each share will be NOK 50 and the maximum price payable will be NOK 250. The repurchased shares will be used in connection with the fulfillment of the company?s obligations in accordance with the company?s LTI program for executive management and in connection with Telenor?s general share program for employees (ESP). The authority shall be valid until the next Annual General Meeting, but not beyond June 30, 2024. As of April 19, 2023, the company had 1,399,458,033 shares in issue and as of April 10, 2023, the company holds 13,953,017 treasury shares.
On February 29, 2024, the company announces a share repurchase program. Under the porgram, the company has engaged DNB Markets, a part of DNB Bank ASA to repurchase of up to 1,408,636 shares, for NOK 70.43 million. The shares shall be used to meet obligations towards employees who participate in the Company?s general employee share plan. The program will commence on March 4, 2024 and will end no later than on March 8, 2024.
Telenor ASA is the No. 1 telecommunications group in Norway. Net sales break down by activity as follows:
- mobile telecommunications services (79.8%): mobile telephone communications, voice and data transmission, Internet access, messaging, sale of telecommunications equipment, etc.;
- fixed-line telecommunications services (18%): fixed-line telephone communications, data transmission, TV channel broadcasting, etc.;
- other (2.2%): offshore telecommunications, interconnection between operators, etc.
Net sales are geographically distributed as follows: Norway (26.1%), Thailand (22.3%), Bangladesh (15.6%), Sweden (12.9%), Finland (10%), Denmark (5.6%), Pakistan (4.9%) and other (2.6%).
Telenor ASA (OB: TEL) commences an Equity Buyback Plan for 10,000,000 shares, representing 0.72% of its issued share capital, under the authorization approved on May 10, 2023.
TELENOR ASA 
