Shareholders of Swedish company Eco Wave Power Global AB approved, during the 2025 Annual General Meeting (AGM), the renewal of authorization enabling the company to repurchase up to 10% of its American Depositary Shares (ADS). This decision extends for one year the previously established legal framework in coordination with the Swedish Financial Supervisory Authority (SFSA).
Conditions of the repurchase programme
The renewed authorization by Eco Wave Power shareholders requires these ADS repurchases to be conducted exclusively on the Nasdaq Capital Market or another regulated market. The authorization is valid until the 2026 Annual General Meeting and can be exercised in one or more transactions, with no binding obligation on the company to carry out the repurchases.
Purchases on the Nasdaq Capital Market must comply with a price range determined by the highest purchase price and the lowest selling price at the precise time of the transaction. All repurchases carried out by the company will be settled exclusively through cash payments.
Banking partnership and regulatory framework
Eco Wave Power announced it will continue its partnership with a designated bank responsible for managing repurchase operations under this renewed mandate. All repurchase activities will adhere to Rule 10b-18 of the U.S. Securities Exchange Act of 1934, as amended, regulating such transactions.
These operations may be executed through open market purchases, privately negotiated transactions, or other methods considered relevant by company management. Specific market conditions at the time of the transactions will determine the actual implementation of repurchases.
Management’s position on repurchase programme
Inna Braverman, founder and Chief Executive Officer of Eco Wave Power, positively commented on the renewal of this authorization, stating that the programme strengthens the company’s financial flexibility and aligns with its long-term capital management strategy. Ms. Braverman also considers this authorization a strategic tool effective in enhancing shareholder value.
Eco Wave Power, specializing in onshore wave energy technologies, is listed on the Nasdaq Capital Market under the ticker “WAVE”.
