TGS ASA announced that its Board of Directors has authorized a share repurchase program of up to USD 20 million. The program represents a continuation of the Company’s prior share repurchase programs, with the most recent program concluding in May 2022. The program reflects the Company’s strong financial and liquidity position and cash flow outlook.
The share repurchase program will be in place until the Company's annual general meeting in May 2023, or such earlier time as the maximum number of shares has been acquired or the program is otherwise resolved terminated.
The share repurchases will be conducted based on the authorization to acquire treasury shares granted at the Company's annual general meeting on 11 May 2022.
Any repurchased shares will be held in treasury and may, subject to approval by a general meeting, thereafter be cancelled. Repurchased shares may also, in part, be used to satisfy obligations under incentive programs and/or otherwise disposed of, including for cash or in-kind consideration as part of transactions.
It is expected that shares will primarily be repurchased in the open market on the Oslo Stock Exchange.
