Retirement of repurchased own shares
The total number of holdings of own shares at 1 January 2019 was 1,210,516 and shares transferred in 2017-2018 to an Employee Share Ownership Trust (“ESOT”) was 188,020. Including these shares the company’s holdings was 1,398,536 and the total number of shares in issue was 40,031,100.
On 4 April 2019, the AGM resolved to retire 807,000 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.
The total number of holdings of own shares at 17 April 2019 was 403,516 and the total number of shares in issue was 39,224,100. Consequently the company’s total holdings of own shares now represent 1.0% 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 591,536 representing 1.5% 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 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.