Harbour Energy plc said it had today started a share buyback programme of the company’s ordinary shares for up to a maximum of $200 million.
PROGRAMME
The company has signed an irrevocable, non-discretionary agreements with its corporate brokers to execute the programme on its behalf.
Harbour added that it continued to employ a disciplined and prudent approach to capital allocation, balancing its three priorities of safeguarding the balance sheet, ensuring a robust and diverse portfolio and shareholder returns.
“The purpose of the programme is to reduce the company’s share capital and all ordinary shares purchased as part of this programme will be cancelled,” said the company in a statement.
The programme will run until 31 December 2022.