Fugro Initiates €42.8 Million Share Repurchase Program to Fulfill Employee Share Programs

Fugro Initiates €42.8 Million Share Repurchase Program to Fulfill Employee Share Programs

(IN BRIEF) Fugro has announced the commencement of a share repurchase program, aiming to buy back 2 million of its ordinary shares to fulfill obligations under its employee share programs. Scheduled to begin on March 20, 2024, and anticipated to conclude by May 30, 2024, or earlier if the maximum repurchased shares are attained sooner, the program is estimated to cost approximately EUR 42.8 million based on the closing price on Euronext Amsterdam. Executed under an engagement letter with a third party and in compliance with regulatory provisions, including the Market Abuse Regulation, Fugro will provide weekly updates on the progress of the program on its website.

(PRESS RELEASE) LEIDSCHENDAM, 20-Mar-2024 — /EuropaWire/ — Fugro will start the repurchase of 2 million of its own ordinary shares to meet obligations under its employee share programmes.

The buyback programme is planned to start on 20 March 2024 and is expected to be completed around 30 May 2024 or sooner if the maximum number of repurchased shares is reached earlier. At yesterday’s closing price on Euronext Amsterdam, the programme would cost approximately EUR 42.8 million.

The programme will be executed under the terms of an engagement letter with a third party in compliance with the safe harbor provisions for share repurchases. Accordingly, transactions may be carried out during closed periods. The programme will also be executed in compliance with applicable rules and regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052. It is carried out under the authority granted by the annual general meeting of shareholders on 26 April 2023, valid until 26 October 2024 (inclusive) and, if adopted and per that date, under the continued authority to be granted in the annual general meeting of shareholders to be held on 25 April 2024.

Fugro will provide weekly updates on the progress, in line with applicable regulations, on its website.

Media Contacts:

Catrien van Buttingha Wichers
Director Investor Relations
+31 70 31 15335

Serge van de Ven
Director Corporate Communications
+31 70 31 11129

SOURCE: Fugro N.V.