LONDON, Nov. 18, 2014 (GLOBE NEWSWIRE) -- Stolt-Nielsen Limited (Oslo Børs: SNI) announced today that its Board of Directors has resolved to initiate a buy-back programme to purchase up to $50 million worth of its common shares.
The buy-back programme will comprise up to 3,100,000 common shares, representing up to 4.83% of the Company's issued share capital. The highest price to be paid per share will be NOK 120.00, but shall in no event exceed the prevailing market price at the Oslo Stock Exchange on the relevant trading day. The shares will be purchased from the open market as well as through private offerings.
The buy-back programme is being initiated on November 18, 2014 and will continue until and including December 10, 2014. The shares purchased will be held in Treasury.
Jan Chr. Engelhardtsen Chief Financial Officer UK +44 (0) 20 7611 8972 firstname.lastname@example.org
Jens F. Grüner-Hegge V.P. Corporate Finance UK +44 (0) 20 7611 8985 email@example.com
About Stolt-Nielsen Limited
Stolt-Nielsen Limited (SNL or the "Company") is a leading global provider of integrated transportation solutions for bulk liquid chemicals, edible oils, acids, and other specialty liquids through its three largest business divisions, Stolt Tankers, Stolthaven Terminals and Stolt Tank Containers. Stolt Sea Farm produces and markets high quality turbot, sole, sturgeon, and caviar. Stolt-Nielsen Gas develops opportunities in LPG and LNG shipping and distribution. Stolt-Nielsen Limited is listed on the Oslo Stock Exchange.
This press release contains "forward-looking statements" based on information available to the Company on the date hereof, and the Company assumes no obligation to update any such forward-looking statement. These statements may be identified by the use of words like "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "project," "will," "should," "seek," and similar expressions. The forward-looking statements reflect the Company's current views and assumptions and are subject to risks and uncertainties. The Company does not represent or warrant that the Company's actual future results, performance or achievements will be as discussed in the those statements, and assumes no obligation to, and does not intend to, update any of those forward-looking statements other than as may be required by applicable law.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)