The Board of AcadeMedia proposes a voluntary share redemption program
The Board of AcadeMedia has resolved to propose that the Annual General Meeting on 30 November 2023 resolves on a voluntary redemption program.
AcadeMedia has over time achieved a solid financial position as a result of the development efforts and investments made during several years. The Board has performed an analysis of the capital structure and a related valuation analysis. In connection thereof, the Board has concluded that the current valuation does not correspond to the investments and the position that the company has achieved and accordingly, that an investment in the own share is well justified. The Board considers that AcadeMedia’s current capital structure justifies the Board’s proposal on a voluntary redemption of shares in addition to the Board’s previously communicated proposal on an ordinary dividend of SEK 1.75 per share.
The Board’s proposal will comprise a voluntary redemption program of not more than a total of SEK 275 million, as an offer to all shareholders for voluntary redemption of shares. The Board’s proposal will include an authorization for the Board to, among other things, determine the redemption amount per share and the total amount to be repaid to shareholders. The intention is to determine the redemption amount to a maximum of 30 percent above the volume-weighted average share price for the company’s ordinary share on Nasdaq Stockholm during the five trading days preceding the Board’s resolution regarding the terms of the voluntary redemption program. The Board is expected to issue the notice to the Annual General Meeting in the coming days and the Annual General Meeting will be held on 30 November 2023. The redemption procedure is intended to be carried out in February/March 2024, after the announcement of AcadeMedia’s second quarterly report for the financial year 2023/24.
An information brochure describing the voluntary redemption program in more detail will be presented and be available before the application period commences.
For more information, please contact:
Katarina Wilson, COO and deputy CEO
Telephone: +46 8 794 42 91
E-mail: Katarina.Wilson@academedia.se
About AcadeMedia
AcadeMedia creates opportunities for people to develop. The 19,400 employees at our 700 preschools, compulsory schools, upper secondary schools and adult education centres share a common focus on quality and development. Our 198,000 children and students are provided with a high quality education, giving them the best conditions to attain both learning objectives and their full potential as individuals. AcadeMedia is Northern Europe ́s largest education company, with locations/facilities/presence in Sweden, Norway, Germany, and Netherlands. Our size gives us the capacity to be a robust, long term partner to the communities we serve. More information about AcadeMedia is available on www.academedia.se.
This information is information that AcadeMedia AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 17:20 CEST October 24, 2023.