SINGAPORE–(BUSINESS WIRE)–Reference is made to the inventory change announcement made by Hafnia Restricted (“Hafnia” or the “Company”, OSE ticker code: “HAFNI”, NYSE ticker code: “HAFN”) on November 27, 2024 relating to its monetary report for the third quarter 2024 and the Board decision to authorize the administration to provoke a share buyback program of up to USD 100 million (the “Authorization”), from December 2, 2024, to January 27, 2025, topic to market circumstances.

In furtherance of the Authorization, the Firm hereby broadcasts that it has put in place an settlement with Pareto Securities AS and its subsidiary, Pareto Securities Inc. (collectively, “Pareto”), for the repurchase of the Firm’s shares in open market transactions on the OSE and the NYSE. Pareto will make its personal buying and selling selections regarding the timing of the purchases independently of the Firm.

So as to adjust to the European Market Abuse Regulation, the Firm supplies the next required info: (i) the Firm might repurchase up to 18,000,000 shares for a complete quantity of up to USD 100,000,000 through the interval from December 2, 2024 till no later than January 27, 2025, and (ii) the aim of the repurchase program is to scale back the variety of the Firm’s excellent shares and to offer returns to the Firm’s shareholders.

Repurchases by way of open market transactions on the NYSE can be made in accordance with U.S. securities legal guidelines and rules, together with compliance with the secure harbor offered by Rule 10b-18 promulgated by the U.S. Securities and Change Fee underneath the U.S. Securities Change Act of 1934, as amended. The precise timing, quantity and worth of shares repurchased underneath the repurchase program will depend upon a number of components, together with the way, timing, and quantity restrictions laid out in Rule 10b-18, price, normal enterprise and market circumstances, and various funding alternatives.

The Firm can’t predict what number of shares can be repurchased, if any, or the timing of any repurchase or the price that can be paid for any shares repurchased underneath this system.

The quantity utilized for the buyback program can be deducted earlier than declaring future dividends. This ensures the mixed complete of dividends and share buybacks aligns to the Firm’s payout ratio underneath its dividend coverage, reflecting the Firm’s dedication to shareholder worth whereas additionally guaranteeing strategic flexibility.

The Firm reserves the proper to make subsequent modifications to the above phrases for this system, together with shortening, extending and/or changing this system with repurchases by way of privately negotiated purchases, block trades, tender gives, accelerated share repurchase transactions or different spinoff transactions, by way of the acquisition of name choices or the sale of put choices, or in any other case, or by any mixture of the foregoing.

This info is topic of the disclosure necessities pursuant to part 5-12 of the Norwegian Securities Trading Act and article 5 of the European Market Abuse Regulation.

About Hafnia Restricted:

Hafnia is without doubt one of the world’s main tanker house owners, transporting oil, oil merchandise and chemical substances for main nationwide and worldwide oil firms, chemical firms, in addition to buying and selling and utility firms.

As house owners and operators of round 200 vessels, we provide a completely built-in delivery platform, together with technical administration, industrial and chartering providers, pool administration, and a large-scale bunker procurement desk. Hafnia has workplaces in Singapore, Copenhagen, Houston, and Dubai and at the moment employs over 4000 staff onshore and at sea.

Hafnia is a part of the BW Group, a global delivery group concerned in oil and fuel transportation, floating fuel infrastructure, environmental applied sciences, and deep-water manufacturing for over 80 years.

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For additional info:
Mikael Skov
CEO Hafnia Restricted
+65 8533 8900

Supply: Hafnia Restricted