BE Group AB acquires own shares
Following authorization by the Annual General Meeting 2010, the Board of Directors of BE Group AB has decided to acquire the company’s own shares on the Nasdaq OMX Stockholm.
The authorization is part of the share savings scheme approved by the Annual General Meeting held on 27 April 2010 (“Share Savings Scheme 2010”) and includes both the number of BE Group shares that later could be transferred to participants in this scheme, as well as the number of BE Group shares that could be transferred to cover social security costs related to the Share Savings Scheme 2010.
The acquisition of own shares will take place before the Annual General Meeting 2011 and involves a maximum of 600,000 shares. Shares will be acquired within the “spread” (the interval between the highest bid price and lowest sell price). The total number of BE Group shares is 50,000,000 and at the time of this press release the company holds 251,348 own shares, intended both to be transferred to participants in the Share Savings Scheme approved by the Annual General Meeting 2008 and 2009, as well as to cover social security payments related to this Scheme.
Information about BE Group’s acquisition of own shares will be published on an ongoing basis at www.nasdaqomxnordic.com. Transactions will not be released for publication other than if flagging notification is required.
Additional information about BE Group can be found on the company website www.begroup.com.
Lars Bergström, President and CEO Tel. +46 (0) 40 38 42 00 E-mail: lars.bergstrom@begroup.com Torbjörn Clementz, CFO and Deputy CEO Tel. +46 (0) 70 869 07 88 E-mail: torbjorn.clementz@begroup.com
BE Group, listed on the Nasdaq OMX Stockholm, is one of the leading trading and service companies for steel and other metals in Europe. The Group has about 10,000 customers, primarily in the construction and engineering industries. BE Group provides various forms of service for steel, stainless steel and aluminium applications. In 2009, the company reported sales totaling SEK 4.3 billion. BE Group has about 900 employees in nine countries in northern Europe, where Sweden and Finland are its largest markets. The head office is located in Malmö, Sweden. Read more about BE Group at www.begroup.com.
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