Intrum launches buyback program
On March 13 2020, the Board of Directors of Intrum AB (publ) resolved to initiate a share buyback program. The purpose of the program is to reduce Intrum’s share capital through cancellation of the shares that are repurchased. Through the program, Intrum will return further funds to shareholders and it is the Board of Directors' assessment that this will give the company a more optimal capital structure.
Intrum’s Annual General Meeting on 26 April 2019 authorized the Board of Directors to resolve on buybacks of own share. The Board of Directors is now utilizing this authorization to launch a buyback program from today until 5 May 2020.
The acquisition of shares shall take place on Nasdaq Stockholm and shall be managed by an investment firm or a credit institution which makes its trading decisions in relation to the company’s shares independently of, and without influence by, the company in accordance with the EU Market Abuse Regulation (596/2014), the EU Commission’s delegated Regulation (2016/1052) and the applicable rules of Nasdaq Stockholm’s Rule Book for Issuers.
The buybacks will be done on the following terms:
1. The maximum number of shares that can be repurchased is 12,554,132. The company’s holdings may not exceed 10 per cent of all the shares in the company at any time.
2. The total share buybacks under the program may not exceed SEK 1,250,000,000.
3. Acquisition of shares may be made at a price per share within the recorded interval, i.e. the interval between the highest buying price and the lowest selling price. The maximum purchase price per share is however SEK 200.
4. Payment shall be made in cash.
Intrum currently holds 600,000 own shares. The Board of Directors intends to propose to a future Annual General Meeting that the share capital in the company is reduced by cancellation of the shares that will be repurchased now.
For further information, please contact:
Viktor Lindeberg, Head of Investor Relations & Group Business Control
+46 (0) 76 897 07 08
+46 (0) 8 546 102 02
viktor.lindeberg@intrum.com
ir@intrum.com
Anders Engdahl, CFO
+46 (0) 8 546 102 02
anders.engdahl@intrum.com
This information is information that Intrum AB (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 above, on March 13, 2020 at 08:30 CET
Intrum is the industry-leading provider of Credit Management Services with a presence in 24 markets in Europe. Intrum helps companies prosper by offering solutions designed to improve cash flows and long-term profitability and by caring for their customers. To ensure that individuals and companies get the support they need to become free from debt is one important part of the company’s mission. Intrum has circa 10,000 dedicated professionals who serve around 80,000 companies across Europe. In 2019, revenues amounted to SEK 16.0 billion. Intrum is headquartered in Stockholm, Sweden and the Intrum share is listed on the Nasdaq Stockholm exchange. For further information, please visit www.intrum.com.
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