DEME annnounces start of share buyback program
DEME says that based on the shareholder authorisation granted by the Extraordinary General Meeting of DEME Group NV of 29 June 2022, the Board of Directors of DEME Group NV has decided to launch a share buyback program.
The company intends to acquire 45,000 shares to cover the company's obligations under the recently implemented stock option plan as part of its senior management incentive plan.
The company currently holds no treasury shares in the framework of its stock option plan.
The program will be effective from 29 April 2024 and is expected to be completed by 30 September 2024 at the latest.
DEME has mandated an independent broker to execute the program on its behalf on the regulated market of Euronext Brussels. The buyback program will be carried out in accordance with the 'safe harbour' procedure provided by Regulation (EU) No 596/2014 of 16 April 2014 on market abuse (Market Abuse Regulation) and Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 supplementing the Market Abuse Regulation.
DEME (Euronext Brussels: DEME) is a leading contractor in the fields of offshore energy, environmental remediation, dredging and marine infrastructure. DEME also engages in concessions activities in offshore wind, marine infrastructure, green hydrogen, and deep-sea mineral harvesting. The company can build on nearly 150 years of experience and is a front runner in innovation and new technologies. DEME’s vision is to work towards a sustainable future by offering solutions for global challenges: climate change, a growing population and urbanisation, increasing maritime trade and environmental issues. With a team of approximately 5,300 highly skilled professionals and one of the most advanced fleets in the world, DEME is well-positioned to tackle even the most complex projects.
