Acando’s Board of Directors has adopted the additional repurchase of treasury shares
The Board of Directors of Acando AB (publ.) has resolved to utilize the authorization granted by the 2011 Annual General Meeting of Shareholders to repurchase shares in the company.
On May 5th, 2011, the Annual General Meeting of Acando AB (publ.) authorized the Board of Directors to purchase shares to the extent that the company’s total holding does not exceed 10 percent of all shares in the company, for the purpose of adjusting the capital structure to suit the company’s capital requirements and to create the opportunity for the company to pay for acquisitions of companies and businesses, wholly or partly, with these shares. This authorization applies until the 2012 Annual General Meeting.
The Board of Directors has resolved to repurchase a maximum of 1,000,000 shares for a maximum amount of SEK 18 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 total number of shares in Acando as at May 5th, 2011 amounts to 79,644,260 composed of 3,639,990 Series A shares and 76,004,270 Series B shares. Acando's current holding of treasury shares amounts to 4,338,631 Series B shares, corresponding to 5.4 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.
This is information that Acando AB may be obligated to disclose according to the Securities Market Act and/or the Financial Instruments Trading Act. This information was submitted for publication on May 6, 2011.
Further information is available from:
Ulf J Johansson, Chairman of the Board, Acando, +46 8 699 70 00
Lotta Jarleryd, CFO, +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 is about EUR 170 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