STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
The board of directors of Industrial and Financial Systems, IFS AB (STO:IFSA) (STO:IFSB) (“IFS”, XSTO: IFS), has decided, on the basis of the authorization received from the annual general meeting 2015, to repurchase a maximum of 250,000 B shares in IFS, which corresponds to approximately 1 percent of all shares in the company, for a maximum aggregate consideration of SKr 70 million.
The purpose of the repurchase program is to hedge the company’s long-term incentive programs, accord the board a greater possibility to adjust the company’s capital structure, and thereby contribute to increased stockholder value. The repurchase will be made on NASDAQ OMX Stockholm pursuant to applicable rules at a share price that falls within the registered range between the highest bid price and the lowest asking price at the time of acquisition. Repurchases will be made as soon as possible, during the period from July 21 up to December 23, 2015 at the latest, subject to prevailing legal provisions. The total number of outstanding shares of all series in IFS currently amounts to 24,971,830, of which 200,000 B shares are owned by the company.
IFS (http://www.ifsworld.com/en/)™ is a globally recognized leader in developing and delivering enterprise software for enterprise resource planning (ERP), enterprise asset management (EAM) and enterprise service management (ESM). IFS brings customers in targeted sectors closer to their business, helps them be more agile and enables them to profit from change. IFS is a public company (XSTO: IFS) founded in 1983 and currently has over 2,700 employees. IFS supports more than 2,400 customers worldwide from its network of local offices and through a growing ecosystem of partners. For more information visit: www.ifsworld.com.
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IFS discloses the information provided herein pursuant to the Financial Instruments Trading Act (1991:980) and/or the Securities Markets Act (2007:528). The information was submitted for publication on July 21, 2015 at 8:30 a.m. (CEST).
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