
Core Viewpoint - Eco Wave Power Global AB has received authorization from the Swedish Financial Supervisory Authority to repurchase up to 10 percent of its American Depositary Shares, following approval from shareholders at the 2024 Annual General Meeting [1][2][5]. Group 1: Repurchase Authorization - The Swedish Financial Supervisory Authority (SFSA) has determined that American Depositary Shares (ADS) are not equivalent to shares under Swedish law, allowing the company to proceed with the buyback [1]. - The repurchase program was approved by shareholders at the 2024 Annual General Meeting, granting the board the authority to buy back ADSs under specific conditions [2][3]. - The maximum number of ADS that can be repurchased is limited to 10 percent of the total shares, and purchases must occur on regulated markets at prices within the highest purchase and lowest selling price range [3]. Group 2: Execution and Management - The company will enter into agreements with a bank to facilitate the buyback process, which may include open market purchases or privately negotiated transactions [2][5]. - The timing and amount of repurchases will be determined by the company's management based on various market and economic conditions [5]. Group 3: Company Overview - Eco Wave Power is a leading onshore wave energy company that has developed patented technology for converting ocean waves into green electricity, contributing to climate change mitigation [6]. - The company operates a grid-connected wave energy project in Israel, recognized as pioneering technology, and is set to begin additional projects in Los Angeles and Portugal, with a total project pipeline of 404.7 MW [7][8].