The Board of Loomis has resolved to continue to repurchase own shares
Loomis AB's board has approved the continuation of its share repurchase program, originally initiated in 2021. This effort aims to optimize the company's capital structure and meet its capital requirements. The buyback will start on November 4, 2021, concluding by January 4, 2022, with a maximum value of SEK 200 million. Shares will be repurchased through Nasdaq Stockholm at prices within the current trading range. Currently, Loomis has 75,279,829 total shares outstanding, of which 608,782 are held in treasury.
- Continuation of share repurchase program supports capital structure optimization.
- Potential increase in shareholder value due to reduced share count.
- None.
SOLNA, Sweden, Nov. 2, 2021 /PRNewswire/ -- The board of directors of Loomis AB has resolved to continue the repurchases of own shares that was initiated earlier this year. The purpose of the repurchases are to adapt Loomis' capital structure to the company's capital requirements and are made by virtue of the authorization granted by the annual general meeting 2021.
The repurchase may commence on 4 November 2021, end not later than on 4 January 2022 and comprise an amount up to a maximum of SEK 200 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.
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 608,782 own shares.
This press release is also available on the company's website, www.loomis.com.
2 November 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
This information was brought to you by Cision http://news.cision.com
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