Panoro Energy ASA (OB:PEN) commences share repurchases on May 27, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 23, 2024. As per the mandate, the company will repurchase up to 11,694,404 shares, representing 10% of the company?s issued share capital. The shares may be repurchased at a minimum price of NOK 1 per share and a maximum price of NOK 100 per share. The repurchased shares may be disposed of to meet obligations under the employee incentive schemes, as part of consideration payable for acquisitions made by the company, as part of consideration for mergers, demergers, to raise funds for specific investments, for payment of loans, strengthen the company?s capital base. The program will expire on June 30, 2025. As of May 23, 2024, the company had 116,944,048 shares in issue and has 0 shares in treasury.

On May 23, 2024, the company announced a share repurchase program. Under the program, the company will repurchase NOK 100 million of its outstanding common shares, pursuant to an agreement with Arctic Securities AS. The repurchase program will end on September 30, 2024.