Investor relations

Buy-back program and ADRs

Buy-back program and ADRs

Discover our buy-back program, and learn how US-citizens can invest in Yara through ADRs.

People standing in a meeting room

Share buy-back program

Share buy-back programs are an integrated part of our shareholder policy. This is based on our belief that share buy-backs will contribute to a better reflection of underlying values in Yara’s share price, as well as an improvement in earnings per share and capital structure. We have bought back shares in most years.

2017-2018

The Yara Annual General Meeting on 11 May 2017 approved a new Power of Attorney to the Board regarding acquisition of own shares. The Board is thereby given authorization to acquire up to 5 percent (13,660,891 shares) of Yara’s shares before the next Annual General Meeting. Yara has renewed its agreement with the Norwegian State according to which the State’s shares will be redeemed on a pro-rata basis to ensure that the State’s ownership is unchanged in the event repurchased shares are cancelled.

Yara's purchases of own shares are disclosed to the Oslo Stock Exchange on an on-going basis and details published in the table below.

2015-2016

Date Price No. of shares Accumulated holding
29 October 2015 384.94 60,000 60,000
2 November 2015 389.26 60,000 120,000
3 November 2015 393.57 60,000 180,000
5 November 2015 396.43 60,000 240,000
11 November 2015 404.43 60,000 300,000
12 November 2015 403.87 60,000 360,000
13 November 2015 401.39 60,000 420,000
17 November 2015 412.61 60,000 480,000
18 November 2015 407.37 60,000 540,000
19 November 2015 408.04 70,000 610,000
20 November 2015 400.39 60,000 670,000
23 November 2015 398.80 60,000 730,000
24 November 2015 392.81 60,000 790,000
26 November 2015 397.30 60,000 850,000
30 November 2015 400.99 60,000 910,000
19 February 2016 330.45 70,000 980,000
22 February 2016 339.47 70,000 1,050,000
23 February 2016 337.46 70,000 1,120,000
24 February 2016 327.45 70,000 1,190,000

2014

Date Price No. of shares Accumulated holding
21 August 2014 306.7295 60,000 60,000
25 August 2014 309.4025 60,000 120,000
05 November 2014 310.1446 100,000 220,000
06 November 2014 314.3335 100,000 320,000
10 November 2014 315.8335 80,000 400,000
12 November 2014 316.4361 80,000 480,000
17 November 2014 316.5882 60,000 540,000
19 November 2014 322.7204 60,000 600,000
20 November 2014 320.3478 60,000 660,000
26 November 2014 315.2822 70,000 730,000

2013

Date Price No. of shares Accumulated holding
27 May 2013 260.4383 90,000 90,000
28 May 2013 262.3925 90,000 180,000
29 May 2013 261.5486 90,000 270,000
30 May 2013 262.1188 90,000 360,000
31 May 2013 263.3117 80,000 440,000
22 July 2013 261.7135 80,000 520,000
23 July 2013 263.7241 80,000 600,000
31 July 2013 263.2669 70,000 670,000
01 Aug 2013 262.7989 70,000 740,000
02 Aug 2013 262.7627 70,000 810,000
05 Aug 2013 259.7309 80,000 890,000
06 Aug 2013 255.2347 80,000 970,000
07 Aug 2013 252.38   80,000 1,050,000
13 Aug 2013 252.9353 80,000 1,130,000
20 Aug 2013 252.147  80,000  1,210,000
27 Nov 2013 259.3788 80,000 1,290,000
28 Nov 2013 261.244 80,000 1,370,000
29 Nov 2013 264.9103 80,000 1,450,000

 

ADRs

American depositary receipts (ADRs, for short) is a common way for investors in the US to buy equity in non-US companies without having to worry about the details of cross-border transactions. Yara’s ADRs are not listed, but can be bought and sold through any broker licensed to buy and sell US securities.

In addition to the Yara share (YAR), the Oslo Stock Exchange also offers standardized derivatives in the form of options and forwards with YAR as the underlying share.

Holding Yara ADRs

There are two ways to hold ADRs, either through your usual bank or broker, in which case you become a "beneficial holder", or through JP Morgan as ADR depositary, in which case you become a "registered holder." After purchasing an ADR, you will be registered in our ADR depositary at JP Morgan as a Yara shareholder. Registered holders of Yara ADRs may hold their ADRs either physically in the form of a certificate or in dematerialized form, evidenced by an account statement.

Ratio of Yara ADRs to ordinary shares

Each ADR is backed by a specific number of the issuer’s local shares (or a fraction thereof). This is called the ADR ratio, which is designed to set the price of each ADR in US dollars in a price range competitive to the share price of the issuer’s US peer group. For us, the ADR ratio is 2:1, i.e. 2 ADRs represents one Yara ordinary share.

Additonal information is available here.

Buying and selling Yara ADRs

You can buy and sell Yara ADRs through any broker licensed to buy and sell US securities. If you opt to be a registered holder, you may contact JP Morgan:

JP Morgan Chase Bank
Phone: 1-800-990-1135
P.O. Box 43013
Providence, RI 02940-3013

Registered holders of Yara ADRs may conduct transactions online through JPMorgan's website www.adr.com. On the page, scroll down to "Investor" and select "Access My Account." For account access details please contact JP Morgan.

Finding the price of Yara ADRs

To find a recent price quote for our ADRs you can go to JP Morgan's website www.adr.com. Alternatively, financial publications that quote US share prices will display our ADR price. For the most up-to-date information ask your broker or consult a service that offers share quotes.

Receiving dividends from ADRs or proceeds from other corporate actions

You receive dividends in US dollars from ADRs if you are a holder of Yara ADRs on the dividend's record date. JP Morgan Chase publishes the record date in advance.

Checking individual shareholdings

Beneficial holders will need to contact their broker. Registered holders may call our ADR depository bank, JP Morgan, at 1-800-990-1135 or log on to the "Account access" button on the "Investor Services" page on JP Morgan's website (www.adr.com).

If you do not have a user name and password to log onto JP Morgan's website, please contact JP Morgan by either calling toll free at 1-781800-990-1135 or writing to:

JP Morgan Chase Bank
P.O. Box 43013
Providence, RI 02940-3013

Lost ADR certificates

Please contact JP Morgan Chase Bank immediately to report the loss of your certificate, at 1-800-990-1135. For a duplicate certificate you will need to pay an insurance fee of approximately 2% of the value of your ADR and submit a completed affidavit of loss to JP Morgan. JP Morgan will provide the affidavit of loss and calculate the amount of insurance fee required by you.

Voting rights through ADR ownership

As an ADR holder on the record date, you will have the sole right to vote the equivalent number of underlying shares as represented by your Yara ADR holdings. To be able to vote, the ADR holder has to be registered in VPS (the Norwegian Central Securities Depository) as the underlying owner. You will receive your proxy card and other relevant documentation through your usual intermediary.

Attendance at the annual general meeting

At the annual general meeting, shareholders have the opportunity to ask questions about the company and its activities. ADR holders can request a non-voting guest admission ticket to attend the annual general meeting at the following address:

JP Morgan Chase Bank
P.O. Box 43013
Providence,
RI 02940-3013 USA
Tel. (781) 575 4328 Toll free: +1-800-990-1135

 

The foregoing does not contain all information that may be important or relevant to you. For more complete information, we highly recommend that you read the entire amended and restated deposit agreement and the form of American Depositary Receipt, which contains the American Depositary Shares terms.