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Archer Limited – Repurchase of shares for incentive programs

Hamilton Bermuda (February 22, 2019)

In order to meet Archer’s obligations under the employee’s incentive programs, the Board has authorized a limited share buyback program under which Archer may repurchase up to 200,000 of the outstanding shares during 2019. Archer intends to repurchase shares from time to time in open market transactions in accordance with applicable securities laws, and will not repurchase any shares above the prevailing market price at the time of the repurchase.

The timing and amount of any repurchases will be determined by Management of the Company based on its evaluation of market conditions, capital allocation opportunities, and other factors. The new buyback program does not require the Company to repurchase any specific number of shares and may be modified, suspended, extended or terminated by the Company at any time without prior notice.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.Twitter