The Board of Directors of Golar LNG Ltd has authorised a new share repurchase programme – effective immediately - under which the company may repurchase up to 5% of Golar's outstanding stock over the next two years.
The authorisation of this stock repurchase programme underscores the Board's confidence in Golar's strategy to become a leading integrated midstream LNG player based on floating infrastructure.
Golar LNG has confirmed that intends to repurchase shares from time to time for cash in open market transactions or in privately-negotiated transactions in accordance with applicable federal securities laws.
The timing and the amount of any repurchases will be determined by Golar LNG’s management based on its evaluation market conditions, capital allocation alternatives, and other factors. The new share repurchase programme does not require Golar LNG to acquire any specific number of shares and may be modified, suspended, extended or terminated by the company at any time without prior notice. Golar will execute purchases only during periods where the executive team and the Board of Directors are not aware of material inside information that would likely affect a seller's decision to sell.
Adapted from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/lng-shipping/01122014/golar-lng-authorises-share-repurchase-programme-1889/