HAFNIA LIMITED: Launch of Share Buy-Back Program
Hafnia announces a share buyback program of up to USD 100 million from December 2, 2024, to January 27, 2025. The company plans to repurchase up to 18 million shares through Pareto Securities AS on both OSE and NYSE markets. The program aims to reduce outstanding shares and provide returns to shareholders. The buyback amount will be deducted before declaring future dividends to align with the company's payout ratio policy. Purchases will comply with U.S. securities laws and Rule 10b-18 safe harbor provisions.
Hafnia annuncia un programma di riacquisto di azioni fino a 100 milioni di USD dal 2 dicembre 2024 al 27 gennaio 2025. L'azienda prevede di riacquistare fino a 18 milioni di azioni attraverso Pareto Securities AS sia nei mercati OSE che NYSE. Il programma mira a ridurre il numero di azioni in circolazione e a fornire rendimenti agli azionisti. L'importo del riacquisto sar脿 dedotto prima della dichiarazione di futuri dividendi per allinearsi con la politica di payout dell'azienda. Gli acquisti saranno conformi alle leggi sui titoli degli Stati Uniti e alle disposizioni di safe harbor della Regola 10b-18.
Hafnia anuncia un programa de recompra de acciones de hasta 100 millones de USD del 2 de diciembre de 2024 al 27 de enero de 2025. La compa帽铆a planea recomprar hasta 18 millones de acciones a trav茅s de Pareto Securities AS en los mercados de OSE y NYSE. El objetivo del programa es reducir las acciones en circulaci贸n y proporcionar rendimientos a los accionistas. El monto de la recompra se deducir谩 antes de declarar futuros dividendos para alinearse con la pol铆tica de pago de la compa帽铆a. Las compras ser谩n conformes a las leyes de valores de EE.UU. y a las disposiciones de refugio seguro de la Regla 10b-18.
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Hafnia annonce un programme de rachat d'actions pouvant aller jusqu'脿 100 millions de USD du 2 d茅cembre 2024 au 27 janvier 2025. L'entreprise pr茅voit de racheter jusqu'脿 18 millions d'actions par l'interm茅diaire de Pareto Securities AS sur les march茅s OSE et NYSE. Le programme vise 脿 r茅duire le nombre d'actions en circulation et 脿 fournir des rendements aux actionnaires. Le montant du rachat sera d茅duit avant la d茅claration de futurs dividendes pour s'aligner sur la politique de r茅partition de l'entreprise. Les achats seront conformes aux lois am茅ricaines sur les valeurs mobili猫res et aux dispositions du safe harbor de la r猫gle 10b-18.
Hafnia k眉ndigt ein Aktienr眉ckkaufprogramm von bis zu 100 Millionen USD vom 2. Dezember 2024 bis zum 27. Januar 2025 an. Das Unternehmen plant, bis zu 18 Millionen Aktien 眉ber Pareto Securities AS sowohl an den OSE- als auch an den NYSE-M盲rkten zur眉ckzukaufen. Ziel des Programms ist es, die Zahl der ausstehenden Aktien zu reduzieren und den Aktion盲ren Renditen zu bieten. Der R眉ckkaufbetrag wird vor der Bekanntgabe k眉nftiger Dividenden abgezogen, um mit der Aussch眉ttungspolitik des Unternehmens in Einklang zu stehen. Die K盲ufe unterliegen den US-Wertpapiergesetzen und den Bestimmungen des sicheren Hafens gem盲脽 Regel 10b-18.
- Implementation of USD 100 million share buyback program indicating strong financial position
- Program aims to return value to shareholders through share count reduction
- Company maintains strategic flexibility while adhering to dividend policy
- Buyback program may reduce funds available for future dividends
- Program duration is relatively short (less than 2 months)
Insights
The announcement of a
The program's integration with future dividend calculations shows disciplined capital management, maintaining the established payout ratio while providing flexibility. The relatively short timeframe (December 2024 - January 2025) suggests an aggressive repurchase strategy that could provide near-term support for the stock price. The shipping industry's current strong cash flows make this an opportune time for capital return initiatives.
In furtherance of the Authorization, the Company hereby announces that it has put in place an agreement with Pareto Securities AS and its subsidiary, Pareto Securities Inc. (together, "Pareto"), for the repurchase of the Company's shares in open market transactions on the OSE and the NYSE. Pareto will make its own trading decisions concerning the timing of the purchases independently of the Company.
In order to comply with the European Market Abuse Regulation, the Company provides the following required information: (i) the Company may repurchase up to 18,000,000 shares for a total amount of up to
Repurchases through open market transactions on the NYSE will be made in accordance with
The Company cannot predict how many shares will be repurchased, if any, or the timing of any repurchase or the price that will be paid for any shares repurchased under the program.
The amount utilized for the buyback program will be deducted before declaring future dividends. This ensures the combined total of dividends and share buybacks aligns to the Company's payout ratio under its dividend policy, reflecting the Company's dedication to shareholder value while also ensuring strategic flexibility.
The Company reserves the right to make subsequent changes to the above terms for the program, including shortening, extending and/or replacing the program with repurchases through privately negotiated purchases, block trades, tender offers, accelerated share repurchase transactions or other derivative transactions, through the purchase of call options or the sale of put options, or otherwise, or by any combination of the foregoing.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act and article 5 of the European Market Abuse Regulation.
About Hafnia Limited:
Hafnia is one of the world's leading tanker owners, transporting oil, oil products and chemicals for major national and international oil companies, chemical companies, as well as trading and utility companies.
As owners and operators of around 200 vessels, we offer a fully integrated shipping platform, including technical management, commercial and chartering services, pool management, and a large-scale bunker procurement desk. Hafnia has offices in
Hafnia is part of the BW Group, an international shipping group involved in oil and gas transportation, floating gas infrastructure, environmental technologies, and deep-water production for over 80 years.
View source version on businesswire.com:
For further information:
Mikael Skov
CEO Hafnia Limited
+65 8533 8900
Source: Hafnia Limited
FAQ
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How will Hafnia's (HAFN) share buyback affect future dividends?
