Bulten AB (publ) utilizes authorization for the acquisition of own shares
The Board of Bulten AB (publ) has decided to use the authorization given by the Annual General Meeting on 29 April 2015 to make a decision concerning acquisition of the company’s own shares.
The Board of Bulten AB (publ) (hereafter “Bulten” or the Company”) has decided to use the authorization given by the Annual General Meeting on 29 April 2015 to buy back the Company’s shares. The amount that may be paid to buy back shares may not exceed SEK 150 million in total.
The purpose of the authorisation agreed by the Annual General Meeting is to give the Board flexibility and capability to continually adapt the Company’s capital structure and thus contribute to increased shareholder value while also enabling the Board to utilise attractive acquisition opportunities by fully or partially financing the acquisition of companies, activities or assets with the Company’s own shares. The Board has now decided to use the authorisation given by the Annual General Meeting to buy back shares under the following conditions:
a) Acquisition shall take place on Nasdaq Stockholm (“the Exchange”).
b) Acquisition may take place on one or more occasions prior to the 2016 Annual General Meeting.
c) After acquisition, the total number of its own shares held by the Company shall not exceed 10% of all shares in the Company. The amount that may be paid for bought-back shares shall not exceed SEK 150 million in total.
d) Acquisition via the Exchange may solely take place at a price per share that is within the registered price interval at any time, or in the event that the Board invites an Exchange member to accumulate a specific number of the Company’s shares for its own account during a limited period, at a price per share that is within the registered price interval at any time or corresponding volume-weighted average price.
e) Payment for bought-back shares shall be made in cash.
f) The rules of the Exchange shall be observed when acquisition is carried out.
The total number of shares in Bulten AB is 21,040,207. On the date of this press release Bulten does not own any of its own shares.
For further information, please contact:
Tommy Andersson, President and CEO, Bulten AB
Helena Wennerström, CFO and EVP, Bulten AB
Tel: + 46 (0)31-734 59 00, e-mail: media@bulten.com
Bulten discloses the information provided herein pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 08:15 CET on July 10, 2015.
Bulten AB (publ) is one of the leading suppliers of fasteners to the international automotive industry. The company’s product range includes everything from customer-specific standard products to specialist, customized fasteners. The company also provides technical development, line-feeding, logistics, material and production expertise. Bulten offers a Full Service Provider concept or parts thereof. Bulten AB (publ):s share is listed on Nasdaq Stockholm. Read more at www.bulten.com.
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