The Board of Directors of Castellum has resolved on repurchases of own shares
Castellum AB has announced a share repurchase program approved by the Annual General Meeting on March 25, 2021. The buyback's goal is to adjust the company's capital structure to enhance shareholder value while maintaining a solid financial position. Repurchases will occur until the next Annual General Meeting, with Castellum holding a maximum of 10% of its shares post-buyback. Currently, Castellum owns 2,075,494 shares. This initiative aims to enable future property investments and acquisitions.
- Enhancement of shareholder value through share buybacks.
- Solid financial position allows for buybacks while meeting liquidity needs.
- Potential for future property investments supported by repurchased shares.
- None.
GÖTEBORG, Sweden, April 21, 2021 /PRNewswire/ -- The Board of Directors of Castellum AB (publ) has, based on the authorisation from the Annual General Meeting held on 25 March 2021, resolved on repurchases of own shares.
The purpose of the repurchases is to be able to adapt the capital structure of the company to its capital needs and thereby contribute to an increased shareholder value. Castellum's financial position is solid. The Board of Directors' assessment is that there is room for executing the repurchases and, at the same time, meet the financing and liquidity requirements of the business.
The repurchases may be carried out on one or several occasions, during the period from 21 April 2021 until the next Annual General Meeting, only to the extent that the company, after each repurchase, will hold a maximum of ten per cent of all the shares in the company. The repurchases may be carried out by trading on Nasdaq Stockholm in accordance with its Rule Book for Issuers, at a price per share which is within the registered price range on Nasdaq Stockholm at the time, by which is meant the range between the highest buying price and the lowest selling price published continuously by Nasdaq Stockholm. Payment of the shares shall be made in cash.
Initially, the company intends to keep the shares that will be repurchased in order to be able to transfer own shares as payment, or in order to finance real property investments and/or acquisitions of real property companies/businesses.
At the time of this press release, Castellum holds 2,075,494 own shares.
For further information, please contact:
Henrik Saxborn, CEO Castellum AB, +46 706-94 74 50
Ulrika Danielsson, CFO Castellum AB, +46 706-47 12 61
About Castellum
Castellum is one of the Nordic region's largest listed real estate companies with a property value of approximately SEK 96 billion. We are active in 14 Swedish growth regions as well as in Copenhagen and Helsinki. Every day, 250,000 people go to work in our premises. We develop flexible workplaces and logistics solutions with a lettable area of 3.8 million square meters. One of our sustainability goals is to be entirely climate neutral by 2030. Castellum is the only Nordic real estate company selected by the Dow Jones Sustainability Index (DJSI). The Castellum share is listed on the Nasdaq Stockholm Large Cap.
Beyond expectations.
www.castellum.se
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SOURCE Castellum
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