SKÅNES FAGERHULT, Sweden--(BUSINESS WIRE)--Regulatory News:
Under the authorisation from the annual general meeting 2016, the board of Concentric AB (publ) has decided to buy back own shares on Nasdaq Stockholm. The repurchase is made on the purposes determined by the annual general meeting, i.e. to be able to improve the company’s capital structure and to enable share transfers in accordance with the board’s proposals for authorisation for the board to transfer own shares and for previous and proposed resolution on transfer of own shares to participants in LTI 2013 - 2016, to increase the flexibility for the board in connection to potential future corporate acquisitions, as well as to cover costs for LTI 2013 - 2016 and enable delivery of shares in accordance with LTI 2013 - 2016.
Any acquisition of shares will take place before the annual general meeting 2017 and shall cover no more than 4,157,060 shares, i.e. 10 per cent of the total number of shares in Concentric AB. The acquisitions will be managed by an investment firm or financial institution which makes its trading decisions in relation to Concentric AB’s shares independently of and without influence from Concentric AB.
The total number of shares in Concentric AB amounts to 41,570,600, whereof 275,136 own shares are held by Concentric AB in treasury following the delivery of 115,360 shares on 28 April 2016 to satisfy Employee Stock Options exercised in relation to the performance based incentive programme LTI 2013.
For information on the implementation of the share repurchases, please see www.nasdaqomxnordic.com. Repurchase of shares will not be press released separately, unless mandatory disclosure obligations apply.
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