Mekonomen repurchases own shares

The Board of Directors in Meknomen AB (publ) has decided to exercise the mandate for the buyback of shares to cover commitments for the long-term share-based incentive program ("LTIP 2019"), approved by the Annual General Meeting 2019. Repurchase of shares takes place between 3–10 July 2019.

To cover the company´s commitments for the "LTIP 2019", decided by the Annual General Meeting in 2019, the Board has decided to repurchase a maximum of 105,000 shares. The Board's decision is taken in accordance with the authorization granted by the AGM held on 2 May 2019. The buyback will take place between 3–10 July 2019. The shares will be bought back on Nasdaq Stockholm exchange at a price within the spread between the highest bid price and lowest ask price prevailing at any given time on the exchange. The total amount of registered shares in Mekonomen is 56,416,622. The company’s holding of own shares amounts to 63,250 shares as of 2 July 2019.

For further information, please contact:

Pehr Oscarson, President & CEO Mekonomen AB
Tel +46 (0)8-464 00 00 E-mail: pehr.oscarson@mekonomengroup.com

Åsa Källenius, CFO Mekonomen AB
Tel +46 (0)8-464 00 00 E-mail: asa.kallenius@mekonomengroup.com

Helena Effert, IRO Mekonomen AB
Tel +46 (0)8-464 00 00 E-mail: helena.effert@mekonomengroup.com

About Us

Mekonomen operates in the car aftermarket and consists of leading car service chains in Northern Europe with a proprietary wholesale operation, more than 460 branches and over 3,400 affiliated workshops operating under the Group’s brands. Through its branch network, Mekonomen Group offers affordable spare parts and accessories to the affiliated workshops, other workshops, other B2B customers, as well as car owners. Around 90 per cent of sales are business to business, where 80 per cent of the orders are digital. The largest business to business customers are affiliated workshops operating under the Group´s concepts AutoMester, BilXtra, Din Bilpartner, Meca Car Service, Mekonomen Bilverkstad, O.K. Serwis, Speedy and others. The Group operates through four business areas – FTZ with operations in Denmark, Inter-Team with operations in Poland, MECA/Mekonomen with operations in Norway and Sweden and Sørensen og Balchen with operations in Norway.

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