Concentric AB selling own shares

The participants in LTI 2018 have the right to receive 60,375 shares, of which 5,810 shares will be delivered directly. In accordance with the terms of LTI 2018, 40,250 shares have a purchase price for the participants of SEK 116.70 and 20,125 shares have a purchase price of SEK 175.10. Under the authorisation from the annual general meeting 2021, the board of Concentric has resolved to sell the remaining 54,565 shares on Nasdaq Stockholm. The difference between the sale price and the purchase price in the terms of LTI 2018 will be paid to the participants.

Prior to this sale of own shares, 53,085 shares have been transferred from Employee Share Ownership Trust (ESOT) to Concentric AB.

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 5.1.1 part H of the Nasdaq Issuer Rules from 1 May 2020 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 176,340 and the total number of shares in issue was 38,297,600. Consequently, the company’s total holdings of own shares represent 0.5% of the total number of shares.  In addition to this, the total number of own shares transferred to the ESOT are 251,727. Including these shares the company’s holdings was 428,067 representing 1.1% 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 1,500 and circa 700 employees.