Bulten AB (publ) utilizes authorization for the acquisitionof own shares
The Board of Bulten AB (publ) has decided to use the authorization given by the Annual General Meeting on 26 April 2018 to make a decision concerning acquisition of the company’s own shares.
The Board of Bulten AB (publ) (hereafter “Bulten” or the Company”) has decided to use the authorization given by the Annual General Meeting on 26 April 2018 to buy back the Company’s shares. According to the Board's decision, the acquisition of shares may amount to a maximum of 50 MSEK, on conditions that otherwise comply with the authorization granted to the Board from the Annual General Meeting. The company may not hold more than 10 percent of the company's shares at any time. The total number of shares in Bulten AB is 21,040,207. At the time of this press release, Bulten holds 680 500 own shares.
The Annual General Meeting authorized the Board to decide on the acquisition of the company's own shares in accordance with the following conditions:
- Acquisition shall take place on Nasdaq Stockholm (“the Exchange”).
- Acquisition may take place on one or more occasions prior to the 2019 Annual General Meeting.
- Acquisitions may be made up to a maximum of so many shares that the company's holdings after the acquisition total up to a tenth of all shares in the company.
- Acquisition via the Exchange may solely take place at a price per share that is within the registered price interval at any time, or in the event that the Board invites an Exchange member to accumulate a specific number of the Company’s shares for its own account during a limited period, at a price per share that is within the registered price interval at any time or corresponding volume-weighted average price.
- Payment for bought-back shares shall be made in cash.
- The rules of the Exchange shall be observed when acquisition is carried out.
The purpose of the authorization for the acquisition of own shares is to give the Board flexibility and capability to continually adapt the Company’s capital structure and thus contribute to increased shareholder value while also enabling the Board to utilise attractive acquisition opportunities by fully or partially financing the acquisition of companies, activities or assets with the Company’s own shares. The authorization also aims at enabling the transfer of own shares to cover social fees linked to the long-term incentive program decided by the 2016 Annual General Meeting to implement and expire until 2019.
For further information, please contact:
Tommy Andersson, President and CEO, Bulten AB
Helena Wennerström, CFO and EVP, Bulten AB
Tel: + 46 (0)31-734 59 00, e-mail: firstname.lastname@example.org
Bulten AB (publ) is one of the leading suppliers of fasteners to the international automotive industry. The company’s product range includes everything from customer-specific standard products to specialist, customized fasteners. The company also provides technical development, line-feeding, logistics, material and production expertise. Bulten offers a Full Service Provider concept or parts thereof. Bulten AB (publ):s share is listed on Nasdaq Stockholm. Read more at www.bulten.com.