Telenor ASA (OB:TEL) commences an Equity Buyback Plan for 10,000,000 shares, representing 0.73% of its issued share capital, under the authorization approved on May 21, 2025.
Published on 2025-06-02 at 12:05
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Telenor ASA (OB:TEL) commences share repurchases on May 27, 2025, under the program mandated by the shareholders in the Annual General Meeting held on May 21, 2025. As per the mandate, the company is authorized to repurchase up to 10,000,000 shares, representing 0.73% 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, 2026. As of April 30, 2025, the company had 1,368,349,989 shares in issue and as of April 22, 2025, the company holds 93,120 treasury shares.
On May 23, 2025, the company announces a share repurchase program. Under the program, the company has engaged DNB Markets, a part of DNB Bank ASA to repurchase of up to 1,454,000 shares, for NOK 72.7 million. The shares shall be used to meet obligations towards employees who participate in the Company?s long term incentive plan (LTI), the employee share plan (ESP), and the executive compensation element: Salary Substitute as restricted shares. The program is divided in three tranches. Under the first tranche, the company will repurchase up to NOK 47.5 million worth of its shares. The tranche will commence from May 26, 2025, and will be valid till May 30, 2025. Under the second tranche, the company will repurchase up to NOK 12.6 million worth of its shares. The tranche will commence from August 11, 2025, and will be valid till August 15, 2025. Under the third tranche, the company will repurchase up to NOK 12.6 million worth of its shares. The tranche will commence from November 10, 2025, and will be valid till November 14, 2025.
Telenor ASA is the No. 1 telecommunications group in Norway. Net sales (including intragroup) break down by activity as follows:
- mobile and fixed-line telecommunications services (87.5%): mobile and fixed-line telephony services, voice and data transmission, Internet access, messaging, TV channel broadcasting, sale of telecommunications equipment, etc.;
- telecommunications infrastructure management (3.8%): construction, development and leasing of towers, masts, buildings, etc.;
- other (8.7%): offshore telecommunications services, interconnection between operators, etc.
Net sales are geographically distributed as follows: Norway (31.3%), Bangladesh (18.8%), Sweden (17.1%), Finland (15.7%), Denmark (7.4%), Pakistan (5.6%) and other (4.1%).
Telenor ASA (OB: TEL) commences an Equity Buyback Plan for 10,000,000 shares, representing 0.73% of its issued share capital, under the authorization approved on May 21, 2025.
