BE Group AB acquires own shares
Following authorization by the Annual General Meeting 2011, 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 28 April 2011 ("Share Savings Scheme 2011") 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 2011.
The acquisition of own shares will take place before the Annual General Meeting 2012 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 409,862 own shares, intended both to be transferred to participants in the Share Savings Scheme approved by the Annual General Meeting 2009 and 2010, 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.
For further information, please contact:
Roger Johansson, President and CEO,
tel.: +46 (0)733 188 758 e-mail: roger.johansson@begroup.com
Torbjörn Clementz, CFO and Executive Vice President,
tel.: +46 (0)70 869 07 88 e-mail: torbjorn.clementz@begroup.com
BE Group, listed on the Nasdaq OMX Stockholm exchange, is one of Europe's leading trading and service companies for steel and other metals. 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 2010, the Group reported sales of SEK 5.1 Bn. BE Group has more than 900 employees in ten countries, with Sweden and Finland being its largest markets. The head office is located in Malmö, Sweden. Read more about BE Group at www.begroup.com
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