Board of Resurs Holding intends to convene Extraordinary General Meeting to propose additional dividends and buy-back authorisation
The Board of Directors of Resurs Holding intends to convene an Extraordinary General Meeting that is to be held in October 2017. The Board intends to propose motions to the Extraordinary General Meeting regarding the payment of additional dividends of SEK 1.50 per share in the autumn of 2017 (a total of SEK 300 million) and authorisation for the Board to decide to buy back own shares on the stock market.
The proposal regarding additional dividends is based on the intention to commence paying dividends biannually instead of once a year as previously. Accordingly, shareholders will have access to accumulated and distributable earnings at an earlier stage than would otherwise be the case, and experience a more even cash flow from their holdings in Resurs Holding.
Authorisation to buy back shares is proposed to encompass up to 5 per cent of all of the shares in the company and be in effect up until the next Annual General Meeting. The purpose is to create a tool for the Board to continuously during the year calibrate the company’s actual capital position in relation to its established target for this position.
The proposals described above do not entail any changes to the company’s target of paying at least 50 per cent of net profit for the year in dividends and do not affect the company’s growth target.
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This information is such information that Resurs Holding AB is required to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication by Sofie Tarring on 8 September 2017 at 12:00 a.m. CET.
ABOUT RESURS HOLDING
Resurs Holding (Resurs), which operates through the subsidiaries Resurs Bank and Solid Försäkring, is the leader in retail finance in the Nordic region, offering payment solutions, consumer loans and niche insurance products. Since its start in 1977, Resurs Bank has established itself as a leading partner for sales-driven payment and loyalty solutions in retail and e-commerce, and Resurs has thus built a customer base of approximately 5.5 million private customers in the Nordics. Resurs Bank has had a banking licence since 2001 and is under the supervision of the Swedish Financial Supervisory Authority. The Resurs Group operates in Sweden, Denmark, Norway and Finland. At the end of the second quarter of 2017, the Group had 742 employees and a loan portfolio of SEK 22.3 billion. Resurs is listed on Nasdaq Stockholm, Large Cap.