Golar LNG Ltd has approved a unit purchase programme under which it may purchase up to US$25 million worth of Golar LNG Partners L.P. outstanding units over the next 12 months.
Golar LNG issued a statement confirming that the authorisation is effective immediately.
The company intends to purchase units 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 purchases will be determined by Golar LNG’s management based on its evaluation of market conditions, capital allocation alternatives, and other factors. The unit purchase programme does not require Goalr LNG to acquire any specific number of units and may be modified, suspended, extended or terminated by the company at any time without prior notice. Golar LNG also confirmed that it 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.
Edited from press release by Callum O'Reilly
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