Launch of share buy-back program
30 October 2023. The Board of Directors of Cloudberry Clean Energy ASA (“Cloudberry”) has resolved to initiate phase I of the share buy-back program for the repurchase of up to 3,000,000 shares, with an aggregate maximum amount of NOK 43,800,000.
The share buy-back program will be executed in accordance with the authorization granted to the Board of Directors by the Extraordinary General Meeting held 28 September 2023, with a maximum price of NOK 14.60 per share.
The program is expected to commence around 1 November 2023 and will be completed on 31 December 2023, at the latest. Phase II of the buy-back program is expected to launch in January 2024 and be completed prior to the next Annual General Assembly. The purpose of the program is to reduce the capital of the Company.
The shares will be bought back in accordance with the requirements in Commission Delegate Regulation (EU) No 2016/1052 of 8 March 2016 and Regulation (EU) No 697/2014.
The share buy-back program will be managed by the independent financial investment firm Pareto Securities, who will make its trading decisions independently of, and without influence by, Cloudberry.
For information and relevant documents please visit our website www.cloudberry.no
For further information, visit our company and IR website www.cloudberry.no or contact:
Anders Lenborg, CEO, +47 934 13 130, al@cloudberry.no
Christian Helland, CVO, +47 418 80 000, ch@cloudberry.no
Ole-Kristofer Bragnes, Senior Financial Officer, +47 917 03 415, okb@cloudberry.no
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
About Cloudberry
Cloudberry is a renewable energy company operating in the Nordics and in accordance with local traditions. The Company owns, develops, and operates hydropower plants and wind farms in the Nordics. Cloudberry is powering the energy transition to a sustainable future by providing new renewable energy today and for future generations. The Company believes in a fundamental long -term demand for renewable energy in Europe. With this as a fundament, Cloudberry is building a sustainable, scalable, efficient, and profitable platform for creation of shareholder value. Cloudberry`s shares are traded on Oslo Stock Exchange's main list (Oslo Børs), supported by strong owners and led by an experienced team and board. The Company has offices in Oslo, Norway (main office), Karlstad, Gothenburg and Eskilstuna in Sweden and Lemvig in Denmark. To learn more about Cloudberry, go to www.cloudberry.no