|Delayed - 05/12 10:59:52 am|
A P Møller Mærsk A/S : Acceleration of current share buy-back program and commitment to additional new share buy-back program of up to DKK 31 billion (around USD 5 billion) over two years
|05/05/2021 | 01:56am|
The Board of Directors of APMM has further decided, under the authority given at the Annual General Meeting in
The decision to initiate a new share buy-back program is supported by the strong earnings and free cash flow generation seen in both 2020 and 2021, which has led to further significant deleveraging of the company to a level of being debt-free on a net interest-bearing debt level, excluding lease liabilities, and by that improved credit metrics in line with investment grade rating.
The share buy-back is carried out with the primary purpose to adjust the capital structure of APMM and secondly to meet obligations under long-term incentive programs. Shares which are not used for hedging purposes for the long-term incentive programs will be proposed cancelled.
The share buy-back will be carried out in several phases and will be executed in accordance with Regulation No. 596/2014 of the
A.P. Møller Holding A/S has agreed to participate in the new share buy-back program by selling A and B shares pro rata to its ownership.
Head of Investor Relations,
Head of External Relations,
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- Announcement - Acceleration of current share buy-back program and new share buy-back program
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