Essity decides to buy back shares for SEK 3bn
Essity's Board of Directors has resolved to utilize the authorization granted by the Annual General Meeting on March 21, 2024, and initiate a program to buy back Class B shares in Essity for SEK 3bn.
Essity’s Board of Directors has today resolved to utilize the authorization granted by the Annual General Meeting on March 21, 2024, and initiate a program to buy back Class B shares in Essity for SEK 3bn, but not exceeding 10% of the total number of shares outstanding. The buyback program begins on June 17, 2024, and extends until the 2025 Annual General Meeting. The repurchased shares are expected to be canceled. The share repurchase will be financed using cash flow from current operations after the ordinary dividend with the ambition to continue with share buy backs over time as a recurring part of Essity’s capital allocation.
The share buyback program will be managed by Danske Bank, which will decide on the date for repurchasing independently from and outside of Essity’s influence. Repurchasing will take place on Nasdaq Stockholm in accordance with the stock exchange’s issuer regulations and be implemented in accordance with the EU Market Abuse Regulation (MAR) and the European Commission’s Delegated Regulation 2016/1052 (Safe Harbour Regulation).
Otherwise, the following terms and conditions apply to the share buyback program:
- The shares are to be acquired at a price per share within the band of prices prevailing at any given time on Nasdaq Stockholm, which refers to the range between the highest purchase price and lowest selling price prevailing and disseminated by Nasdaq Stockholm.
- The shares will be paid for in cash.
The total number of Essity shares is 702,342,489, of which 60,969,986 Class A shares and 641,372,503 Class B shares. Essity currently holds no shares in treasury.
Information about repurchases under the program will be published each week on Essity’s website www.essity.com.
NB: This is information that Essity Aktiebolag (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 07:35 CET on June 17, 2024.
Per Lorentz, Vice President Corporate Communications, +46 73 313 30 55
For further information, please contact:
Per Lorentz, Vice President Corporate Communications, +46 73 313 30 55, per.lorentz@essity.com
Sandra Åberg, Vice President Investor Relations, +46 70 564 96 89, sandra.aberg@essity.com
Essity is a global, leading hygiene and health company. Every day, our products, solutions and services are used by a billion people around the world. Our purpose is to break barriers to well-being for the benefit of consumers, patients, caregivers, customers and society. Sales are conducted in approximately 150 countries under the leading global brands TENA and Tork, and other strong brands such as Actimove, Cutimed, JOBST, Knix, Leukoplast, Libero, Libresse, Lotus, Modibodi, Nosotras, Saba, Tempo, TOM Organic and Zewa. In 2023, Essity had net sales of approximately SEK 147bn (EUR 13bn) and employed 36,000 people. The company’s headquarters is located in Stockholm, Sweden and Essity is listed on Nasdaq Stockholm. More information at essity.com.
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