Peab continues to repurchase its own shares
On the 11th of May, 2010 the Annual General Meeting authorised the board of Peab to repurchase, before the next Annual General Meeting, at the most the number of shares in Peab AB so that the company will have a maximum holding of one tenth of all registered shares.
Based on this authorisation Peab’s board decided the 11th of May, 2010 to purchase a maximum of 2,000,000 B shares. After this decision 2,000,000 B-shares have been acquired.
Yesterday Peab’s board has decided, based on the authorisation of the AGM, another 2,000,000 B shares will be repurchased. The shares will be acquired on the NASDAQ OMX Stockholm at the trading rate valid on the date of purchase.
Peab’s current shareholding is 6,784,220 B shares, which corresponds to 2.3 percent of the number of registered shares which is 296,049,730.
The purpose of the repurchase is in part to regulate the company’s capital structure, in part to finance acquisitions and such like or, according to the decision of the AGM, to keep the number of shares unchanged if and when convertible debentures issued in December 2007 are converted.
For further information, please contact: Jesper Göransson, CFO Peab +46 733 371013 Gösta Sjöström, CIO Peab +46 733 371010
Peab AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 8.30 a.m. on 2 June 2010.
Previous press releases from Peab are available at www.peab.com
Peab is one of the leading construction and civil engineering companies in the Nordic countries with a net sale exceeding SEK 35 billion and approximately 13,000 employees. The Group’s subsidiaries have strategically located offices in Sweden, Norway and Finland. The share is listed on NASDAQ OMX Stockholm. The registered office of the Group is at Förslöv, Skåne in south of Sweden.