Vopak announces share buyback program to return up to EUR 300 million to shareholders
Source: GlobeNewswireVopak announces share buyback program to return up to EUR 300 million to shareholders
Rotterdam, the Netherlands, 14th February 2024
Today, Vopak announces the start of a share buyback program to return up to EUR 300 million to shareholders. The share buyback program will start 15 February 2024 and will run until the end of 2024, barring unforeseen circumstances. Vopak will cancel these shares subject to the relevant board and shareholder approvals. The share buyback program will be executed pursuant to the safe harbour of the Market Abuse Regulation and under the existing authority granted at the 2023 Annual General Meeting on 26 April 2023, and, subsequently, the authority (if granted) by the 2024 Annual General Meeting on 24 April 2024. Under these limits the share buyback program shall not exceed 10% of Vopak’s issued capital.
The share buyback program will be executed by an independent intermediary, allowing the execution of open market transactions during open and closed periods.
Vopak confirms the absence of any agreement with its existing shareholders regarding their potential participation in the share buyback program.
The share buyback program is separate from any share transactions Vopak may execute to cover obligations under the long term incentive programs for employees.
Vopak will provide weekly updates on the progress of the share buyback program through press releases and transaction details on Vopak’s website for the duration of the program.
This press release contains inside information as meant in clause 7 of the Market Abuse Regulation.
About Royal Vopak
Royal Vopak helps the world flow forward. At ports around the world, we provide storage and infrastructure solutions for vital products that enrich everyday life. These products include liquids and gases that provide energy for homes and businesses, chemicals for manufacturing products, and edible oils for cooking. For all of these, our worldwide network of terminals supports the global flow of supply and demand. For more than 400 years, Vopak has been at the forefront of fundamental transformations. With a focus on safety, reliability, and efficiency, we create new connections and opportunities that drive progress. Now more than ever, our talented people are applying this mindset to support the energy transition. Together with our partners and customers, we are accelerating the development of infrastructure solutions for hydrogen, ammonia, CO₂, long-duration energy storage, and low-carbon fuels & feedstocks – paving the way to a more sustainable future.
Vopak is listed on the Euronext Amsterdam and is headquartered in Rotterdam, the Netherlands. For more information, please visit www.vopak.com
For more information please contact
Vopak Press: Liesbeth Lans - Manager External Communication, e-mail: global.communication@vopak.com
Vopak Analysts and Investors: Fatjona Topciu - Head of Investor Relations, e-mail: investor.relations@vopak.com
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