Acando has adopted the repurchase of treasury shares
The Board of Directors of Acando AB (publ.) has resolved to utilise the authorisation granted by the Annual General Meeting of Shareholders to repurchase shares in the company.
The Annual General Meeting of Acando AB (publ.) on May 4th 2010 authorized the board to acquire shares up to a maximum holding of 10 percent of all outstanding shares in the company with the purpose to adapt the company's capital structure to its capital requirements, as well as to enable the company to utilize repurchased shares as payment in full or in part for acquisition of companies or business activities.
The Board of Directors has resolved to repurchase a maximum of 1,000,000 shares for a maximum amount of SEK 14 million.
The acquisition will take place via the NASDAQ OMX Nordic at a price within the registered price interval prevailing at the time of the acquisition. The acquisition may take place during the period up to the next Annual General Meeting of Shareholders.
The total number of shares in Acando as at 30 June 2010 amounted to 79,644,260 composed of 3,639,990 A-shares and 76,004,270 B-shares. Acando's current holding of treasury shares amounts to 2,971,131 B-shares, corresponding to 3.7 percent of all outstanding shares. A repurchase of 1,000,000 shares would represent an additional 1.3 percent of the total number of outstanding shares.
For further information, please contact
Ulf J Johansson, Chairman of the Board, Acando AB, +46 8 699 70 00.
Acando
Acando is a consultancy company that in partnership with its clients identifies and implements sustainable business improvements through information enabled by technology. Acando provides a balance of high business value, short project times and low total cost. Acando’s annual turnover exceeds EUR 135 million and the Group employs approximately 1,100 professionals in six European countries. Acando is listed at NASDAQ OMX Nordic. Acando’s corporate culture is based on three core values: Team spirit, Passion and Results. www.acando.com