The Board of Directors of Kungsleden has decided to repurchase own shares
The Board of Directors of Kungsleden AB (publ) has decided to utilise the mandate from the Annual General Meeting held on 23 April 2020 concerning the repurchase of own shares. The buy-back programme commences today and has a scope of up to SEK 300 million applying until the date of the next Annual General Meeting.
The aim of the buy-back programme is to optimise the company’s capital structure, thereby increasing shareholder value. The repurchased shares shall be held in treasury and may be used for, amongst others, the financing of potential future property acquisitions. Kungsleden’s financial position is nonetheless deemed strong and capable of providing the headroom to continue to develop the business, even after completion of the resolved share buy-back. Kungsleden currently holds no shares in treasury.
The shares will be acquired on the Nasdaq Stockholm stock exchange at a price within the registered span of share prices at the time. The registered share price span refers to the difference between the highest buying price and lowest selling price.
In accordance with the mandate from the Annual General Meeting, a maximum of so many shares may be repurchased that the company's holding at any given time does not exceed 10 per cent of all the shares in the company.
For more information, please contact:
Biljana Pehrsson, CEO of Kungsleden | +46 8 503 052 04 | biljana.pehrsson@kungsleden.se
Ylva Sarby Westman, Deputy CEO and CFO of Kungsleden | +46 8 503 052 27 | ylva.sarby.westman@kungsleden.se
Anna Trane, Head of Corporate Communications Kungsleden | +46 708 84 74 69 | anna.trane@kungsleden.se
This information is mandatory for Kungsleden AB to publish pursuant to the EU Market Abuse Regulation. This information was submitted for publication at 07:45 a m on 19 November 2020 through the agency of the contact person set out above.
About Kungsleden. We are people that create places and experiences for people. By developing and managing attractive and sustainable places, we offer people a better and more inspiring work experience. We are a long-term property owner focused on commercial properties in Sweden’s growth regions. As of 30 September 2020, we owned 211 properties with total value of SEK 39,872 million. Kungsleden (KLED) is listed on the Nasdaq Stockholm Large Cap. Read more at www.kungsleden.se