Business
BlueNord ASA: Initiating Offer to Buy Back Own Shares
Reference is made to the stock exchange notice by BlueNord ASA ("BlueNord" or the "Company") on 18 June 2025 where the Company announced its intention to declare a total distribution of USD 253 million to its shareholders, comprising of USD 203 million as cash dividend and up to USD 50 million in a share repurchase. The cash dividend was paid on 4 July 2025.
About this update from Bluenord Asa
[{"type":"text","content":"NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY IN UNITED STATES, CANADA, AUSTRALIA, JAPAN OR ANY JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES.","length":222,"tagName":"p"},{"type":"text","content":"OSLO, Norway, July 14, 2025 /PRNewswire/ -- Reference is made to the stock exchange notice by BlueNord ASA ("BlueNord" or the "Company") on 18 June 2025 where the Company announced its intention to declare a total distribution of USD 253 million to its shareholders, comprising of USD 203 million as cash dividend and up to USD 50 million in a share repurchase. The cash dividend was paid on 4 July 2025.","length":429,"tagName":"p"},{"type":"text","content":"Based on the authorization granted by the annual general meeting of the Company on 22 May 2025 for the Company's Board to acquire up to 30% of the share capital of the Company, the Company hereby launches a tender offer to purchase shares of the Company up to the NOK equivalent of USD 50 million (the "Offering"). The Offering will be conducted as a reverse book building process in which shareholders can submit sales offers.","length":441,"tagName":"p"},{"type":"text","content":"The acquisition of shares is subject to offer demand and prices and as further determined by the Company's Board. The Company reserves the right, at its own discretion, to acquire fewer shares or no shares at all in the Offering. To the extent the Company elects to buy back less than USD 50 million, the remaining amount will be paid to shareholders as a dividend.","length":369,"tagName":"p"},{"type":"text","content":"The purpose of the shares acquired in the Offering is expected to be used in the Company group's share incentive program, and for the remaining (majority part) to be cancelled at a later stage, subject to approval by a general meeting resolution.","length":250,"tagName":"p"},{"type":"text","content":"The Company has mandated DNB Carnegie, a part of DNB Bank ASA, as Manager for the Offering.","length":91,"tagName":"p"},{"type":"text","content":"Shareholders in the Company, who may lawfully participate, are invited to sell shares in the Offering, subject to the restrictions set out herein. Shareholders wanting to sell shares in the Offering are required to complete and send ...