Scandic launches share buyback program of SEK 300 million
Scandic Hotels Group AB (publ) ("Scandic") today launches the share buyback program of SEK 300 million that was announced in a press release on 29 October 2024. The purpose of the buybacks is to adjust Scandic's capital structure and distribute capital to the shareholders.The share buyback program is based on the mandate granted to the Board of Directors by the Annual General Meeting and will be carried out in accordance with the EU Market Abuse Regulation ("MAR") and the European Commission's Delegated Regulation 2016/1052 (the "Safe Harbour Regulation"). Buybacks of shares will be carried