Denmark’s Vestas Wind Systems to initiate $228 mln buyback programme

Denmark-based electrical equipment company Vestas Wind Systems has decided to initiate a share buyback programme of up to 1,500 million Danish krone ($228 million) to be executed during the period 15 August 2018 to 28 December 2018.

The share buyback programme is initiated pursuant to the authorization granted to the board of directors by the annual general meeting which authorizes Vestas to acquire treasury shares at a nominal value not exceeding 10 percent of the share capital at the time of the authorization.

The purpose of the share buyback programme is to adjust Vestas’ capital structure and to meet obligations arising from share-based incentive programmes to employees of Vestas.

Prior to the share buyback, Vestas holds 4 million treasury shares, equal to 2.4 percent of the share capital.