Gram Car Carriers ASA: Initiation of a share buyback program

Oslo, 8 May 2023: Gram Car Carriers ASA ("GCC" or the "Company") has decided to initiate a share buyback program of up to 300,000 of its own shares. Under the share buyback program, shares may be acquired for a maximum amount of NOK 60 million in aggregate. The program shall be carried out in the period from this announcement and until 31 August 2023 at the latest.

The purpose of the program is to give the board flexibility to use treasury shares as settlement under the Company's incentive schemes or to reduce the capital of the Company. Furthermore, shares acquired under the program may be used by the Company in connection with investment within the Company's business area or as settlement in potential acquisitions.

The share buybacks will be made in accordance with the authorizations granted to the board of directors by GCC's annual general meeting on 12 May 2022, and subject to and as proposed replaced by new authorizations by the annual general meeting to be held on 12 May 2023.

The share buyback program will be carried out by way of repurchases of shares on the Oslo Stock Exchange. GCC has engaged Fearnley Securities AS to carry out the share buyback program on behalf of the Company. Fearnley Securities AS will make its trading decisions independently of, and uninfluenced by, the Company.

The execution of any repurchases will depend on market conditions, the buyback program may be discontinued at any time and the Company may resolve to terminate the buyback program before the threshold set out above is reached. Further announcements will be made if and when appropriate.

The share buyback program will be carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (MAR) and the principles of Commission Delegated Regulation (EU) No 2016/1052 (the Safe Harbour Regulation). Hereunder, the number of shares acquired per day shall not exceed 25% of the average daily trading volume in the 20 trading days preceding the relevant date of purchase.

For further information, please contact:

CEO Georg A. Whist
Telephone: +47 416 01 681

Head of Projects & IR: Mas Gram
Telephone: +47 954 10 093

About Gram Car Carriers:

GCC is the world's third-largest tonnage provider within the Pure Car Truck Carriers (PCTCs) segment with 19 owned vessels, across the Distribution, Mid -size and Panamax segments. The Company serves as a trusted provider of high -quality vessels and logistics solutions ensuring safe, efficient and punctual shipment of vehicles for a network of clients comprising of major global and regional PCTC operators. To learn more, please visit

This information is subject to the disclosure requirements pursuant to article 2 of the Safe Harbour Regulation and Section 5-12 the Norwegian Securities Trading Act.