Concentric AB acquires own shares

Under the authorisation from the annual general meeting 2015, the board of Concentric AB (publ) has decided to buy back own shares on Nasdaq Stockholm. The repurchase is made on the purposes determined by the annual general meeting, i.e. to be able to improve the company’s capital structure and to enable share transfers in accordance with the board’s proposals for authorisation for the board to transfer own shares and for previous and proposed resolution on transfer of own shares to participants in LTI 2012 - 2015, to increase the flexibility for the board in connection to potential future corporate acquisitions, as well as to cover costs for LTI 2012 - 2015 and enable delivery of shares in accordance with LTI 2012 - 2015.

Any acquisition of shares will take place before the annual general meeting 2016 and shall cover no more than 4,285,250 shares, i.e. 10 per cent of the total number of shares in Concentric AB. The acquisitions will be managed by an investment firm or financial institution which makes its trading decisions in relation to Concentric AB’s shares independently of and without influence from Concentric AB.

The total number of shares in Concentric AB amounts to 42,852,500, whereof 303,081 own shares are held by Concentric AB in treasury following the delivery of 157,760 shares on 4 May 2015 to satisfy Employee Stock Options exercised in relation to the performance based incentive programme LTI 2012.

For information on the implementation of the share repurchases, please see Repurchase of shares will not be press released separately, unless mandatory disclosure obligations apply.

Mia Segerberg, Group Communications, +46 722-26 90 80 

About Us

Concentric AB is the former Hydraulics Division of Haldex AB and from June 16 2011 a separate listed company.Concentric is one of the world’s leading pump manufacturers. Our flow dynamics gives customers advanced technology oil pumps, water pumps, fuel pumps and hydraulic systems. We aim to increase fuel economy, reduce emissions and improve engine control through our technical solutions and precision engineering. Concentric’s global manufacturing presence includes factories in Sweden, Germany, the UK, the USA, Argentina, India and China, backed by central support and development functions. This means we sell locally to our global customers. The business fuses Concentric’s strengths as a pumps maker with longstanding expertise in hydraulic products. Our customers make trucks, construction equipment, agricultural machinery and general industrial applications.