Back to top
Reported by Vestas on 7 November 2019

Share buy-back programme of up to DKK 1,500m (approx. EUR 200m)

V100-1.8 MW, Macho Springs, USA (Courtesy of Vestas Wind Systems A/S)

The Board of Directors of Vestas Wind Systems A/S has decided to initiate a share buy-back programme of up to DKK 1,500m (approx. EUR 200m) to be executed during the period 7 November 2019 to 31 December 2019.

The share buy-back programme is initiated pursuant to the authorisation granted to the Board of Directors by the annual general meeting in April 2019, which authorises Vestas to acquire treasury shares at a nominal value not exceeding 10 percent of the share capital at the time of the authorisation.

The share buy-back programme will be executed in accordance with Regulation No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (MAR) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (the "Safe Harbour" rules).

Purpose

The purpose of the share buy-back programme is to adjust Vestas’ capital structure and to meet obligations arising from share-based incentive programmes to employees of Vestas.

At Vestas' annual general meeting in 2020, a resolution will be proposed by the Board of Directors that shares acquired, which are not used for hedging purposes of share-based incentive programmes, will be cancelled.

Time frame

The share buy-back programme will run from 7 November 2019 to 31 December 2019.

Terms

Vestas has appointed SEB as lead manager for the share buy-back programme. SEB will make its own trading decisions independently of and without influence or involvement from Vestas.

Under the share buy-back programme, Vestas may repurchase shares up to a maximum amount of DKK 1,500m, and no more than 18,633,606 shares, corresponding to 9.4 percent of the share capital of Vestas Wind Systems A/S.

No shares may be bought back at a price exceeding the higher of i) the price of the last independent trade and ii) the highest current independent bid at the trading venue, on which the purchase is carried out, at the time of trading.

The maximum number of shares that may be purchased on each trading day may not exceed 25 percent of the average daily trading volume of shares on the trading venue, on which the purchase is carried out, over the last 20 trading days prior to the date of purchase.

Prior to the share buy-back, Vestas holds 1,256,590 treasury shares, equal to 0.6 percent of the share capital.

Vestas is entitled to suspend or stop the programme at any time subject to a disclosure of a company announcement.

On a weekly basis, Vestas will issue an announcement in respect of transactions made under the programme.

Contact detail:
Vestas Wind Systems A/S, Denmark
Patrik Setterberg, Vice President,
Investor Relations
Tel: +45 6122 1913

References

[1]

Vestas Wind Systems A/S. Press release - Share buy-back programme of up to DKK 1,500m (approx. EUR 200m). URL: https://www.vestas.com/en/media/company-news?n=201911070817002. [Date Accessed: 07/11/2019].

[2]

Vestas Wind Systems A/S. Images. https://www.vestas.com/en/media/images. [Date Accessed: 21/02/2017].

23 Jan | Vestas receives 60 MW order with auction win in Poland

Vestas has received a 60 MW order from Eurowind Energy A/S, a leading developer and operator of sustainable energy projects, for the Janikowo wind project which will be located in the Kujawsko-Pomorskie Province in Poland.

20 Jan | Vestas to produce zero-waste wind turbines by 2040

At Vestas, enabling a more sustainable future has always been at the core of what the company does. Now, Vestas is expanding its sustainability focus beyond the positive contribution of its products to also address waste generated in the value chain.

06 Jan | Vestas to become carbon-neutral by 2030

For Vestas, the reality of the climate crisis is at the centre of our business.

31 Dec | Vestas secures 30 MW order in Mexico

Vestas has received a 30 MW order for a project in Mexico. The contract includes the supply and installation of 15 V120-2.0 MW wind turbines as well as an Active Output Management 5000 (AOM 5000) service agreement for the operation and maintenance of the wind park over the next 20 years.