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Eitzen Chemical ASA Eitzen Chemical refers to the authorization approved by the General Meeting of Eitzen Chemical ASA earlier today to buy back up to 10 % of the Company's outstanding shares.
The Board has resolved to carry out a share buy back programme and authorized the management to purchase shares in Eitzen Chemical for a total consideration of up to USD 4 million. The shares that are acquired under the buy back programme may be held in treasury for obligations under the Company's employee share option plan, be used as payment in business transactions or be cancelled.
Eitzen Chemical is an industrial carrier of chemical cargos with a fleet of 105 vessels, whereof 64 vessels are owned or financially controlled, 24 newbuildings and 17 pool vessels.
