Oslo, 5 June 2019 – Pursuant to the authority for the Board of Directors of MPC Container Ships ASA (the "Company") to acquire shares in the Company, as granted by the annual general meeting on 25 April 2019, the Board of Directors have resolved to initiate a share buy-back programme.
The share buy-back programme comprises up to 8,255,344 common shares, which together with previously repurchased shares represents up to 10% of the Company's share capital.
When acquiring own shares the consideration per share may not exceed NOK 200, and shall in no event exceed the price of the last independent trade or the highest current independent bid at the Oslo Stock Exchange on the relevant trading day. The number of shares acquired per day shall not exceed 13,853, representing 25% of the average daily trading volume in May 2019 (excluding reported trades not matched via the stock exchange’s electronic order book) of 55,413 shares.
Any acquired shares may for example be used as consideration in acquisitions or other transactions. The Board of Directors determines the methods by which the Company’s shares can be acquired or disposed of. Any repurchased shares will be held as treasury shares.
The buy-back programme will commence today and will continue until the Company’s next annual general meeting, at the latest on 30 June 2020. Any transactions in own shares will be continuously and promptly disclosed through the Oslo Stock Exchange and on the Company’s webpage.
The above information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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About MPC Container Ships ASA:
MPC Container Ships ASA (ticker code "MPCC") was formed in April 2017. Its main activity is to own and operate a portfolio of container ships with a focus on the feeder segment between 1,000 and 3,000 TEU. The Company is registered and has its business office in Oslo, Norway. For more information, please see our webpage: www.mpc-container.com