Wallenius Wilhelmsen: Initiation of share repurchase programme as part of its long-term incentive scheme

The Board of Directors (the "Board") of Wallenius Wilhelmsen ASA (the "Company") has decided to initiate a share repurchase programme to cover obligations under its long-term incentive scheme, in accordance with the authorisation to acquire own shares granted to the Board by the Company's annual general meeting (the "AGM") on 26 April 2023. In accordance with the authorisation from the AGM, the maximum number of shares that can be repurchased is 42,310,494 shares, equivalent to 10% of the share capital of the Company. The share repurchase for the long-term incentive scheme will however be capped at 500,000 shares, in line with the number of shares required for the scheme outlined in the notice of annual general meeting. The minimum price that can be paid per share is NOK 0.52 and the maximum price is NOK 100. The maximum consideration is NOK 50,000,000. The number of shares acquired per day shall not exceed 25% of the average daily trading volume for the month prior to this announcement. This amounts to a maximum of 59,532 shares per day. The repurchase programme will be conducted in the period from 6 September 2023 until the earlier of end of business on 29 September 2023 or the date the maximum number of shares have been repurchased or the maximum consideration is reached. The execution of any repurchases will depend on market conditions. The share repurchase programme may be discontinued at any time and the Board may resolve to terminate the share repurchase programme before the above threshold is reached. The purpose of the repurchase programme is to cover obligations under the Company's long-term incentive scheme and will be held by the Company until vested. The share repurchase programme will be carried out by way of repurchases in the market. The Company has entered into a non-discretionary agreement with a third-party who will make its trading decisions independently of, and uninfluenced by, the Company. Transactions will be conducted in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and Commission Delegated Regulation (EU) No 2016/1052 ("Safe Harbour Regulation") as further set out inter alia in the Norwegian Securities Trading Act of 2007 and the Oslo Stock Exchange's Guidelines for buy-back programs and price stabilisation dated February 2021. Transactions will be reported on a weekly basis and any further announcements will be made when appropriate. For further information, please contact: Anders Redigh Karlsen, Vice President Investor Relations & Market Insight Tel: +47 994 20 293 Email: anders.karlsen@walwil.com Pictures, please see the website: https://www.walleniuswilhelmsen.com/who-we-are/media About Wallenius Wilhelmsen: The Wallenius Wilhelmsen group is a market leader in roll-on/roll-off (RoRo) shipping and vehicle logistics, managing the distribution of cars, trucks, rolling equipment and breakbulk to customers all over the world. The company operates around 125 vessels servicing 15 trade routes to six continents, a global inland distribution network, 66 processing centers and eight marine terminals. Headquartered in Oslo, Norway, the Wallenius Wilhelmsen group has 8,875 employees in 29 countries worldwide. Read more at www.walleniuswilhelmsen.com

Source: NewsWeb