Equinor Announces Share Buy-back - Quick Facts

(RTTNews) - Equinor (EQNR) announced a share buy-back programme to reduce the issued share capital of the company. The $5 billion programme will continue until the end of 2022. It represents around 292 million shares or around 8.7 percent of the share capital. The Norwegian State will participate on a proportionate basis, ensuring that its ownership interest remains unchanged.

The first tranche of the programme, to be carried out on the Oslo Stock Exchange, runs from 5 September 2019 up to no later than 25 February 2020. Shares for up to $500 million will be purchased in the market, implying a total first tranche of around $1.5 billion including redemption of shares from the Norwegian State. Upon completion, the Board will propose to the AGM to cancel the purchased shares and redeem the proportionate number of State shares.