NAXS AB (publ) has resolved to repurchase own shares
Not for release, publication or distribution, directly or indirectly, in or into the United States, Hong Kong, Canada, Japan or Australia, or any other jurisdiction in which the distribution or release would be unlawful.
The board of NAXS AB (publ) has resolved, pursuant to the authorisation granted by the Annual General Meeting held on 30 March 2022, to repurchase own shares. Acquisition of shares may only take place at a price within the price interval, on any occasion, recorded on Nasdaq Stockholm, which refers to the interval between the highest buying price and the lowest selling price.
As of the date of this press release, the company do not hold any own shares and the number of outstanding shares in the company is 11,152,585. In the event of a fully executed share repurchase program, the company will own shares representing no more than ten (10) per cent of the issued shares in the company.
Share repurchases shall be executed in intervals until the next Annual General Meeting, and are subject to market conditions and regulations at any given time.
The purpose of the share repurchase is to provide flexibility in relation to the company’s possibilities to return capital to its shareholders, to improve the capital efficiency in the company, and to prevent an excessively wide NAV/share price discount in relation to the company’s shares, which altogether is deemed to be susceptible to have a positive impact on the company’s share price and thereby contribute to an increased shareholder value.
Contact information:
Lennart Svantesson, CEO
Phone: +46 73 311 00 11
This press release and further information is available on the Company’s website: www.naxs.se
NAXS AB (publ)
Corp. Reg. No. 556712-2972
Alma, Nybrogatan 8
114 34 Stockholm, Sweden
E-mail: info@naxs.se
NAXS is listed on NASDAQ Stockholm. NAXS primarily invests in private equity funds with a Nordic focus, but may also make direct investments or co-investments alongside private equity or other alternative assets funds. In addition, NAXS may, to a limited extent, make other types of investments.