Peab’s Board has decided to repurchase own shares
The Board of Directors of Peab AB (publ) has, through the authorization given by the Annual General Meeting (AGM) on May 5, 2022, decided to repurchase its own shares.
The shares will be repurchased, on one or several occasions, until the AGM 2023. The aim of the repurchasing is to improve the company's capital structure.
The shares will be repurchased on Nasdaq Stockholm according to the Nordic Main Market Rulebook for Issuers of Shares – Nasdaq Stockholm (Supplement D) and EU Parliament’s and Council’s EU regulation nr. 596/2014 on market abuse (MAR).
According to the Board’s decision shares may be repurchased during the period for a maximum of SEK 500 million and a number of shares so that the company's holding of its own shares after the repurchasing does not exceed one tenth of all shares in the company.
The shares may only be repurchased at a price per share within the price interval registered at any given time on Nasdaq Stockholm, meaning the interval between the current highest buy price and the lowest sell price published by Nasdaq Stockholm.
One of Group targets, net debt/equity ratio, is that net debt in relation to equity according to segment accounting should be in the interval 0.3 - 0.7. As of March 31, 2022 the net debt/equity ratio was 0.2 (0.2 per December 31, 2021), which is lower than the target interval.
At the time of this press release the total number of shares in the company were 296,049,730, of which 34,319,957 were A shares and 261,729,773 were B shares, of which Peab AB holds 1,086,984 own B shares.
Peab has commissioned Nordea Bank Abp to manage the repurchasing program. Completed repurchases will be reported according to valid regulations.
For further information, please contact:
Niclas Winkvist, CFO Peab, +46 73 384 75 00
Juha Hartomaa, Head of Investor Relations Peab, +46 725 33 31 45
This information is information that Peab AB 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 May 19, 2022, 6 p.m. CET.
Peab is the Nordic Community Builder with 15,000 employees and net sales of SEK 61 billion. With a local presence and focus on our own resources we develop, do the groundwork and build everyday life where it’s lived. Company headquarters are in Förslöv on Bjäre Peninsula in southern Sweden. The Peab share is listed on Nasdaq Stockholm.
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