STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
The Board of Directors of Com Hem Holding AB (publ) has today resolved to continue to exercise the authorization to resolve on repurchase of shares that was given by the Annual General Meeting held on May 19, 2016.
The Board of Com Hem Holding AB (”Com Hem” or the ”Company”) has today resolved to initiate a share buyback program for a total amount of up to SEK 100 million up until January 30, 2017.
Repurchased shares will reduce Com Hem’s share capital by shares being cancelled, after sufficient number of shares have been saved to be used for delivery of shares under Com Hem’s 2015 and 2016 LTIP Programs. The program is being carried out in accordance with the Regulation (EU) No 596/2014 of the European Parliament and of the Council of April 16, 2014 (“MAR”). The buy-back program 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.
The buy-back program resolved upon by the Board shall meet the following terms:
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 MAR.
2. Share repurchases can be made from December 1, 2016 to January 30, 2017.
3. Repurchases of shares on the Nasdaq Stockholm 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 SEK 100 million may be repurchased, of which shares for a maximum amount of SEK 50 million may be purchased for the period between December 1, 2016 to December 31, 2016 (both days included) and for a maximum amount of SEK 50 million for the period between January 1, 2017 to January 30, 2017 (both days included).
5. A maximum of 18,895,064 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.
The total number of shares in Com Hem amounts to 188,950,640. Com Hem currently owns 3,148,932 own shares.
This information is information that Com Hem Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 07:30 CET on December 1, 2016.
About Com Hem
Com Hem offers broadband, TV, play and telephony services to Swedish households and companies. Approximately 40 percent of the country's households are connected to Com Hem's network, making Com Hem an important driver of digital Sweden. We offer broadband speeds of up to 1 Gbit/s and a wide range of channels via digital TV at home or mobile via Com Hem Play. The company was founded in 1983 and has approximately 1,200 employees including about 700 within customer service. Com Hem is headquartered in Stockholm and operates through three subsidiaries; Com Hem AB, Phonera Företag AB and iTUX Communication AB. In September, 2016, Com Hem acquired Boxer TV-access AB. In 2015, Group sales totalled SEK 5,000 million. Since 2014 the Com Hem share is listed on Nasdaq Stockholm. www.comhemgroup.com (http://www.comhemgroup.com).
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