Concentric AB selling own shares

The participants in LTI 2016 have the right to receive 169,400 shares, of which 17,000 shares will be delivered to them directly. Under the authorisation from the annual general meeting 2019, the board of Concentric has resolved to sell the remaining 152,400 shares on Nasdaq Stockholm before the annual general meeting 2020. The difference between the sale price and the purchase price in the terms of LTI 2016 will be paid to the participants. In accordance with the terms of LTI 2016, 110,050 shares have a purchase price for the participants of SEK 70.90 and 42,350 shares have a purchase price of SEK 106.30.

Transfer of own shares on Nasdaq Stockholm shall be made at a price within the stock market price interval registered at any given time, such interval being the interval between the highest purchase price and the lowest sales price. The transfers shall be executed by a bank in accordance with Section 4.1 of the Nasdaq Issuer Rules and otherwise in accordance with all applicable rules and regulations.

For information on the transaction of own shares, please see www.nasdaqomxnordic.com. Transactions of own shares will not be press released separately, unless mandatory disclosure obligations apply.

The total number of holdings of own shares in Concentric at the time of this press release was 290,836 and the total number of shares in issue was 39,224,100. Consequently the company’s total holdings of own shares represent 0.7% of the total number of shares.  In addition to this, the total number of own shares transferred to the ESOT during 2017-2019 are 300,700. Including these shares the company’s holdings was 591,536 representing 1.5% of the total number of shares.

For further information, please contact Lennart Lindell, +46 (0)766 104 004 

Concentric AB is an innovator in flow control and fluid power, supplying proprietary systems and components to the world’s truck, agricultural machinery, construction equipment and industrial applications end-markets. The company has a global manufacturing presence including in the UK, USA, Germany, Sweden, India, China and Argentina. Concentric’s focus is to develop world class technology with innovative solutions that meet the sustainability needs of our customers. Concentric offers engine products including lubricant, coolant and fuel pumps, hydraulic products encompassing gear pumps and power packs, and finally several key technologies for the fast growing market for electrical and hybrid powertrains. The Group has a turnover of circa MSEK 2,400 and circa 1,000 employees.