Retirement of repurchased own shares
The total number of holdings of own shares at 1 January 2018 was 1,236,507 and shares transferred in 2017 to an Employee Share Ownership Trust (“ESOT”) was 93,000. Including these shares the company’s holdings was 1,329,507 and the total number of shares in issue was 40,872,000.
On 3 May 2018, the AGM resolved to retire 840,900 of the company’s own repurchased shares. The retirement of shares has been carried out through a reduction of share capital with retirement of shares and a subsequent bonus issue to restore the share capital.
During 2018 the company have also transferred 95,020 of own shares to the ESOT and 5,018 shares have been sold.
The total number of holdings of own shares at 16 May 2018 was 295,569 and the total number of shares in issue was 40,031,100. Consequently the company’s total holdings of own shares now represent 0.7% of the total number of shares. In addition to this, the total number of own shares transferred to the ESOT during 2017-2018 are 188,020. Including these shares the company’s holdings was 483,589 representing 1.2% of the total number of shares.
For further information, please contact Lennart Lindell, +46 (0)766 104004
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 manufacturing facilities in the UK, USA, Germany, Sweden, India, China and Argentina. In addition to supplying oil, fuel transfer and water pumps for diesel engines, the group also manufactures lubrication pumps for transmissions and compressors within its range of engine products.