Norwegian Cruise Line Holdings’ (NCLH) Board of Directors has authorised a three-year, $1 bill share repurchase programme.
NCLH said that it may repurchase its ordinary shares from time to time, in amounts, at prices and at such times as it deems appropriate, subject to market conditions and other considerations. Repurchases maybe made in the open market, in privately negotiated transactions, in accelerated repurchase programmes or in structured share repurchase programmes, and any repurchases may be made pursuant to Rule 10b5-1 plans.
The programme will be conducted in compliance with applicable legal requirements and will be subject to market conditions and other factors, NCLH stressed.
“The $1 bill share repurchase programme authorisation reflects our ongoing confidence in our financial strength and the long-term outlook of our business,” said Frank Del Rio (pictured), NCLH president and CEO. “Our strong and growing cash flow will allow us to deepen our commitment to provide returns to our shareholders, while continuing to invest in our product, innovation and growth.”
This programme does not obligate the company to acquire any particular amount of ordinary shares and the programme may be modified or suspended at any time at the company’s discretion, NCLH added.