The Board of Loomis has resolved to continue to repurchase own shares
The board of directors of Loomis AB has announced the continuation of its share repurchase program, set to start on July 25, 2022, and conclude by September 28, 2022. The total value of the buyback is capped at SEK 200 million, with repurchases to occur on Nasdaq Stockholm within prevailing price intervals. Loomis currently holds 2,257,782 of its own shares out of a total of 75,279,829 shares. This initiative aims to enhance shareholder value and reflect the company's strong financial position.
- Share repurchase program valued at SEK 200 million enhances shareholder value.
- Demonstrates confidence in the company's financial health and stock performance.
- None.
STOCKHOLM, July 21, 2022 /PRNewswire/ -- The board of directors of Loomis AB has resolved to during the third quarter continue the repurchase of own shares that was initiated earlier this year, by virtue of the authorization granted by the annual general meeting 2022.
The repurchase may commence on July 25, 2022, end not later than on September 28, 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 the trading order given by Loomis, take trading decisions independently of Loomis with regard to the timing of the acquisitions.
Reporting will be made via the stock exchange in accordance with applicable rules.
The repurchase is made for the purposes set forth in the general meting's authorization.
The total number of shares in Loomis is 75,279,829 and the company holds 2,257,782 own shares.
This press release is also available on the company's website, www.loomis.com
July 21, 2022
CONTACT:
Kristian Ackeby
Chief Financial Officer
Mobile: +46 70 569 69 98
Email: kristian.ackeby@loomis.com
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SOURCE Loomis AB
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