STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
The Board of Directors of Com Hem Holding AB (publ) (STO:COMH) has decided to continue to exercise the authorization to resolve on repurchase of shares that was given by the 2015 Annual General Meeting and communicated on May 21st.
The Board of Com Hem Holding AB (”Com Hem” or the ”Company”) has decided to continue to exercise the authorization to resolve on repurchase of shares that was given by the Annual General Meeting on May 21, 2015.
The third part of the program will be carried out in accordance with the European Commission’s ordinance (EC) No 2273/2003 of December 22, 2003, (the “EC ordinance”) and will be managed by a securities company or credit institution that makes its trading decisions regarding Com Hem’s shares independently of, and without influence by, Com Hem with regard to the timing of the repurchases, using the same terms as the in the second part of the program that expired on November 2, 2015:
1. Repurchases of shares are to be made on Nasdaq Stockholm and in accordance with Nasdaq Stockholm’s Rule Book for Issuers and in accordance with the EC ordinance.
2. Share repurchases can be made during the period November 10, 2015 and February 8, 2016.
3. Repurchases of shares on the Nasdaq Stockholm Exchange are to be made at a per-share price within the registered interval for the going rate at any given time, which denotes the interval between the highest and lowest selling price.
4. Shares for a total maximum amount of MSEK 350 may be repurchased (including any possible block transactions carried out during the now relevant period in accordance with the already existing mandate), of which shares for a maximum amount of MSEK 200 may be purchased for the period ending December 31, 2015, and for a maximum amount of MSEK 150 thereafter.
5. A maximum of 13,633,023 shares may be repurchased. The Company’s holding of its own shares may not at any time exceed 10 per cent of the outstanding shares in the Company.
6. Payment for the shares is to be made in cash.
Com Hem’s share capital will be reduced by cancelling the shares that has been repurchased.
The Board intends to, after the third program expires and up until the following Annual General Meeting, return with additional buyback programs to be carried out in accordance with the EC ordinance.
The total number of shares in Com Hem amounts 206,643,376. Com Hem currently owns 7,031,314 own shares.
Notes to the editors:
Press release from May 21 2015 with more information on buy-back program: http://www.comhemgroup.se/en/2015/05/21/com-hem-repurchases-own-shares/]
Press release from August 3 announcing continued of buy-back program: http://www.comhemgroup.se/en/2015/08/03/com-hem-continues-buy-back-program/
Com Hem Holding AB discloses the information provided herein pursuant to the Swedish Securities Markets Act (2007:528) and/or the Swedish Financial Instruments Trading Act (1991:980). The information was submitted for publication at 15:00: CET on November 10, 2015.
About Com Hem
Com Hem is one of Sweden’s leading suppliers of high-speed broadband, television and fixed-telephony. Approximately 40% of Sweden’s households are connected to Com Hem’s network, with access to the market’s broadest range of television services. Com Hem offers broadband speeds up to 500 Mbps to 1.9 million households which is more than any other operator. Since 2013 Com Hem has a competitive B2B-offer of broadband and telephony services. Com Hem was founded in 1983, has approximately 1,200 employees and its head office is in Stockholm. Operations are run through three subsidiaries; Com Hem AB, Phonera Företag AB and iTUX Communication AB. Com Hem’s shares are listed on Nasdaq Stockholm. For more information, visit: www.comhemgroup.com.
This information was brought to you by Cision http://news.cision.com