COM HEM REPURCHASES OWN SHARES
The Board of Directors of Com Hem Holding AB (publ) has today resolved to exercise the authorization to resolve on repurchase of shares that was given by the Annual General Meeting held on May 19, 2016.
The Board of Com Hem Holding AB (”Com Hem” or the ”Company”) has today resolved to initiate a share buyback program for a total amount of up to SEK 150 million up until July 11, 2016.
Repurchased shares will reduce Com Hem’s share capital by being cancelled, after sufficient number of shares have been saved to be used for delivery of shares under Com Hem’s 2015 and 2016 LTIP Programs. The program is, up until July 2, 2016, being carried out in accordance with the European Commission’s ordinance (EC) No 2273/2003 of December 22, 2003 (the “EC ordinance”), and thereafter in accordance with Article 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of April 16, 2014 (the “New EC ordinance”). The buy-back program will be managed by a securities company or credit institution that makes its trading decisions regarding Com Hem’s shares independently of, and without influence by, Com Hem with regard to the timing of the repurchases.
The buy-back program resolved upon by the Board shall meet the following terms:
- Repurchases of shares are to be made on Nasdaq Stockholm and in accordance with Nasdaq Stockholm’s Rule Book for Issuers and in accordance with the EC ordinance and as of July 3, 2016 in accordance with the New EC ordinance.
- Share repurchases can be made from June 9, 2016 to July 11, 2016.
- Repurchases of shares on the Nasdaq Stockholm are to be made at a per-share price within the registered interval for the going rate at any given time, which denotes the interval between the highest and lowest selling price
- Shares for a total maximum amount of MSEK 150 may be repurchased, of which shares for a maximum amount of MSEK 100 may be purchased for the period ending 30 June 2016, and for a maximum amount of MSEK 50 thereafter.
- A maximum of 19,287,402 shares may be repurchased. The Company’s holding of its own shares may not at any time exceed 10 per cent of the outstanding shares in the Company.
- Payment for the shares is to be made in cash.
The total number of shares in Com Hem amounts to 206,643,376. Com Hem currently owns 13,769,357 own shares, which are in the process of being cancelled. After cancellation, the total number of shares in Com Hem will amount to 192,874,019.
For queries, please contact:
Fredrik Hallstan, Head of PR
Tel: +46(0)761 15 38 30
Petra von Rohr, Director IR & Corporate Communications
Tel: +46(0)734 39 06 54
Com Hem Holding AB discloses the information provided herein pursuant to the Swedish Securities Markets Act (2007:528) and/or the Swedish Financial Instruments Trading Act (1991:980). The information was submitted for publication at 13:00 CET on June 8, 2016.
About Com Hem
Com Hem offers broadband, TV, play and telephony services to Swedish households and companies. Approximately 40 percent of the country's households are connected to Com Hem's network, making Com Hem an important driver of digital Sweden. We offer broadband speeds of up to 1 Gbit /s and a wide range of channels via digital TV at home or mobile via Com Hem Play. The company was founded in 1983 and has approximately 1,200 employees including about 700 within customer service. Com Hem is headquartered in Stockholm and operates through three subsidiaries; Com Hem AB, Phonera Företag AB and iTUX Communication AB. In 2015, Group sales totaled SEK 5,000 million. Since 2014 the Com Hem share is listed on Nasdaq Stockholm. www.comhemgroup.se.