The Board of Loomis exercises its authorization to repurchase shares
Loomis AB announced a share repurchase program to enhance its capital structure, with a maximum value of SEK 150 million. The buyback will commence on 26 July 2021 and conclude no later than 30 September 2021. The shares will be acquired via Nasdaq Stockholm, and transactions will be managed by Nordea Bank Abp. Currently, Loomis has a total of 75,279,829 shares, out of which they hold 53,797 shares. This initiative is viewed as a move to optimize shareholder value.
- Share repurchase program worth SEK 150 million may enhance shareholder value.
- Management of share buyback by Nordea Bank can ensure professional execution.
- None.
SOLNA, Sweden, July 22, 2021 /PRNewswire/ -- The board of directors of Loomis AB has resolved to exercise the authorization, granted by the annual general meeting 2021, to repurchase own shares to adapt Loomis' capital structure to the company's capital requirements.
The repurchase may commence on 26 July 2021, end not later than on 30 September 2021 and comprise an amount up to a maximum of SEK 150 million. Repurchase shall be made on Nasdaq Stockholm, on one or more occasions, at a price within the prevailing price interval registered at each point in time (being the interval between the highest buying price and the lowest selling price). Payment for repurchased shares shall be made in cash. Nordea Bank Abp will administrate the repurchase and, based on a trading order given by Loomis, take trading decisions independently of Loomis. No acquisitions will be made during a 30-day period prior to the announcement of a financial report.
Reporting will be made via the stock exchange in accordance with applicable rules.
The total number of shares in Loomis is 75,279,829 and the company holds 53,797 own shares.
This press release is also available on the company's website, www.loomis.com.
22 July 2021
CONTACT:
Kristian Ackeby
CFO
Mobile: +46 70 569 69 98
Email: kristian.ackeby@loomis.com
Anders Haker
Chief Investor Relations Officer
Mobile: +1 281 795 8580
Email: anders.haker@loomis.com
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SOURCE Loomis AB
FAQ
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