Share buy-back program 2024-2025
The Board of Directors of Norsk Hydro ASA has resolved to initiate a share buyback program to service its shareholders by way of reducing its share capital. The share buyback program will be executed in accordance with the authorization granted to the Board of Directors by the Annual General Meeting of Norsk Hydro held on May 7, 2024.
The share buyback program covers purchase of up to 100,000,000 shares with a maximum value of NOK 2,000 million, inclusive of the proportional redemption of shares owned by the Norwegian State. NOK 2,000 million is equivalent to approximately 1.8% of the market value of the share capital in Norsk Hydro at the current share price level.
The buyback program will commence September 11, 2024 and is planned finalized within February 28, 2025, with the authorization being valid until June 30, 2025. The shares repurchased under the buyback program will be redeemed (cancelled) by way of a share capital decrease in Norsk Hydro, subject to approval by Norsk Hydro's General Meeting.
The minimum and maximum amounts that can be paid per share shall be NOK 20 and NOK 150, respectively.
Norsk Hydro has entered an agreement with the Norwegian State according to which the Norwegian State's shares will be redeemed on a pro-rata basis to ensure that the Norwegian State's ownership is unchanged when shares are cancelled.
Norsk Hydro has engaged Citigroup Global Markets Europe AG to manage and carry out the share repurchases in the market. Citigroup Global Markets Europe AG will make its trading decisions independently of, and uninfluenced by, Norsk Hydro.
The share buyback program is carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and Commission Delegated Regulation (EU) No 2016/1052 ("Safe Harbour Regulation").
Norsk Hydro’s purchases of own shares are disclosed to the Oslo Stock Exchange on an on-going basis and details published in the table below.
As a result of MAR (EU’s market abuse regulation) being implemented in Norway from September 18, 2024, purchases will be disclosed on an aggregate and detailed form on a weekly basis. The aggregate form can be found in the table below.
Date |
Aggregate daily volume (no. of shares) |
Volume weighted average price (NOK) |
Total transaction value (NOK) |
11/09/2024 | 240 000 | 57.40 | 13 776 048 |
12/09/2024 | 224 500 | 58.99 | 13 242 761 |
13/09/2024 | 240 000 | 58.84 | 14 121 600 |
16/09/2024 | 154 089 | 60.07 | 9 255 649 |
17/09/2024 | 180 000 | 60.99 | 10 977 552 |
18/09/2024 | 208 700 | 60.54 | 12 635 470 |
19/09/2024 | 119 300 | 63.09 | 7 527 031 |
20/09/2024 | 240 500 | 62.15 | 14 947 700 |
23/09/2024 | 240 000 | 61.81 | 14 835 072 |
24/09/2024 | 55 000 | 65.47 | 3 600 977 |
25/09/2024 | 240 000 | 65.10 | 15 623 376 |
26/09/2024 | 78 087 | 66.92 | 5 225 652 |
27/09/2024 | 114 000 | 68.35 | 7 791 535 |
30/09/2024 | 210 000 | 68.54 | 14 392 476 |
01/10/2024 | 196 780 | 68.33 | 13 446 627 |
02/10/2024 | 172 000 | 68,81 | 11 834 598 |
03/10/2024 | 250 000 | 67,53 | 16 881 300 |
04/10/2024 | 225 000 | 68,26 | 15 357 375 |
07/10/2024 | 150 000 | 68,63 | 10 294 395 |
08/10/2024 | 300 000 | 66,30 | 19 891 050 |
09/10/2024 | 230 000 | 66.54 | 15 303 740 |
10/10/2024 | 218 521 | 66.99 | 14 637 695 |
11/10/2024 | 8 293 | 68.37 | 566 967 |
14/10/2024 | 113 000 | 69.38 | 7 840 302 |
15/10/2024 | 255 000 | 67.85 | 17 302 796 |
16/10/2024 | 219 200 | 68.76 | 15 072 345 |
17/10/2024 | 164 000 | 68.67 | 11 262 077 |
18/10/2024 | 54 580 | 69.69 | 3 803 899 |
21/10/2024 | 164 000 | 69.21 | 11 351 129 |
22/10/2024 | 270 000 | 68.47 | 18 486 279 |
23/10/2024 | 278 000 | 68.15 | 18 944 922 |
24/10/2024 | 250 000 | 68.26 | 17 065 900 |
25/10/2024 | 330 000 | 67.37 | 22 233 651 |
28/10/2024 | 352 746 | 67.63 | 23 857 729 |
29/10/2024 | 5 530 | 68.05 | 376 301 |
30/10/2024 | 89 000 | 68.78 | 6 121 580 |
31/10/2024 | 178 900 | 68.10 | 12 183 358 |
01/11/2024 | 110 000 | 68.75 | 7 562 236 |
04/11/2024 | 165 000 | 69.43 | 11 455 554 |
05/10/2024 | 138 969 | 69.79 | 9 699 050 |
06/11/2024 | 200 000 | 69.32 | 13 864 720 |
07/11/2024 | 7 211 | 69.86 | 503 744 |
08/11/2024 | 250 000 | 69.62 | 17 406 075 |
11/11/2024 | 350 000 | 68.26 | 23 890 125 |
12/11/2024 | 650 000 | 65.85 | 42 805 035 |
13/11/2024 | 580 000 | 64.88 | 37 627 442 |
14/11/2024 | 215 020 | 64.60 | 13 891 195 |
15/11/2024 | 38 758 | 66.12 | 2 562 652 |
18/11/2024 | - | 0.00 | - |
19/11/2024 | 10 000 | 70.12 | 701 189 |
20/11/2024 | 50 000 | 72.13 | 3 606 565 |
21/11/2024 | 50 000 | 71.38 | 3 569 195 |
22/11/2024 | 30 000 | 71.40 | 2 142 039 |
25/11/2024 | - | - | - |
26/11/2024 | 34 730 | 71.98 | 2 500 022 |
27/11/2024 | 300 000 | 69,55 | 20 864 880 |
28/11/2024 | 460 000 | 68,28 | 31 408 018 |
29/11/2024 | 330 900 | 68,46 | 22 653 149 |
02/12/2024 | 325 000 | 68,03 | 22 110 530 |
03/12/2024 | 30 000 | 68,94 | 2 068 266 |
04/12/2024 | 34 921 | 69.12 | 2 413 813 |
05/12/2024 | - | - | - |
06/12/2024 | 600 000 | 67.77 | 40 661 880 |
09/12/2024 | 200 000 | 67.85 | 13 570 700 |
10/12/2024 | 500 000 | 66.96 | 33 477 650 |
Accumulated to date |
12 679 235 | 66.65 | 845 084 634 |
Updated: December 11, 2024