Eco Wave Power Receives Green Light for the Repurchase of its American Depositary Shares
STOCKHOLM, Aug. 8, 2024 /PRNewswire/ — Eco Wave Power Global AB (publ) (NASDAQ: WAVE) (“Eco Wave Power” or the “Company”), a leading, publicly traded onshore wave energy company, is pleased to announce that following its official request, submitted to the Swedish Financial Supervisory Authority (the “SFSA”) on the 21st of December, 2023, for authorization for the repurchase of American Depositary Shares (the “ADS”) representing up to 10 percent of the total number of shares in the Company, the SFSA responded that in its opinion, the ADS are not considered equivalent to shares in accordance with Chapter 19 of the Swedish Companies Act. As a result, the Company should be able to repurchase ADSs, in accordance with Swedish law.