Nel ASA shareholders have approved a motion authorising the board to increase the company’s share capital by up to NOK 36.77m ($8m).
The additional 36.8m million shares can now be issued, with the income intended to be used to fund general corporate purposes. Another 3.68m shares can be issued as part of the electrolyser maker’s employee share option programme.
The board has also received approval to buy back up to 9% of the company’s shares.
Nel added that shares may be acquired at a price share of a minimum of NOK 0.2 ($0.02) per share and a maximum of NOK 20 ($1.85) per share.
