Vestas launches EUR-150m share buyback programme

Danish wind turbine maker Vestas Wind Systems A/S (CPH:VWS) said on Thursday it is launching a programme to repurchase up to DKK 1.12 billion (USD 163m/EUR 150m) shares.

The company explained in a statement that this move is aimed at adjusting its capital structure and meeting the obligations arising from employee share option programmes or other share allocations to Vestas staff.

Starting today, the wind turbine maker will seek to buy back up to 19,268,107 shares, corresponding to 8.6% of its share capital. The programme, to be managed by Nordea, will run until December 31, 2015.

Vestas noted that the maximum number of stock that may be bought on each business day should not exceed 25% of the average daily trading volume of shares on Nasdaq Copenhagen or another regulated market, on which the purchase is made, over the previous 20 trading days.

(DKK 1.0 = USD 0.146/EUR 0.134)

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