Stolt-Nielsen Limited Announces Plan to Repurchase Stock
LONDON, February 7, 2018 - Stolt-Nielsen Limited (Oslo Børs: SNI) announced today that its Board of Directors has authorised the Company to continue the share buy-back programme announced on March 2, 2016. Under the 2016 buy-back programme, the Board had authorised the purchase of up to $30 million worth of the Company's Common Shares, of which the Company only utilised $1,715,353.48, leaving $28,284,646.52 available for further purchases.
The shares will be purchased through open market transactions and private offerings in accordance with applicable laws and regulations, and purchased shares will be held as treasury shares. The purchases will continue until the targeted amount of $30 million has been reached, but will be halted in the period March 15th, 2018 until April 9th, 2018, as the Company will be in a restricted period until the first quarter 2018 results have been released.
Jan Chr. Engelhardtsen
Chief Financial Officer
U.K. +44 (0) 20 7611 8972
Jens F. Grüner-Hegge
V.P. Corporate Finance
U.K. +44 (0) 20 7611 8985
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.