The Board of Holmen has resolved on share repurchases
The Board of Directors of Holmen has decided to exercise its authorisation from the Annual General Meeting held on 11 April 2019 to repurchase own shares.
Repurchases may take place, in the period from 16 August 2019, inclusive, to the company’s next Annual General Meeting, on one or several occasions, such that its holding of own shares does not exceed 10 per cent of the total number of shares in the company. The shares will be bought on Nasdaq Stockholm in accordance with its Issuer Rules, at a price per share within the price range on Stockholm Nasdaq at any given time, by which is meant the range between the highest buying price and the lowest selling price published continuously by Nasdaq Stockholm. Payment for the shares shall be made in cash.
The purpose of the repurchase is to make the Group’s capital structure more efficient. The company’s financial position has gradually strengthened, with a debt/equity ratio that has fallen to 0.1, while the risk in the business has been reduced via the repositioning of paper and major reinvestments in paperboard. Even after a repurchase of shares, the Group’s financial position is considered to be strong and provides the scope to continue to develop the business.
The intention is for the repurchased shares to be withdrawn via a reduction in the company’s share capital This requires a decision by the Annual General Meeting.
At the time of this press release, Holmen holds 1,351,203 of its own shares in treasury, corresponding to 0.8 per cent of the total number of shares in the company.
For more information, please contact:
Hakim Belarbi, PR and Public Affairs Manager, Holmen, tel. +46 70 482 44 87
This information is information that Holmen AB 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 above, on 15 August 2019 at 12.15 CEST.
Holmen’s business concept is to own and add value to the forest. The forest holdings form the basis of the business – an ecocycle in which the raw material grows and is refined into everything from wood for climate-smart building to renewable packaging, magazines and books. The forest is managed to provide a good annual return and stable value growth while our production operations are run with a focus on profitability and greater value added. In 2018 Holmen’s net sales were just over SEK 16 billion and the group has approx. 3 000 employees. Holmen’s shares are listed on Nasdaq Stockholm, Large Cap. For more information, visit holmen.com.