Proact Board makes decision on buyback of own shares
The Board of Directors at Proact IT Group AB ("Proact") has made a decision to initiate buyback of its own shares within the scope of the authorisation concerning the acquisition of own shares, amounting to a maximum of 10 per cent of the shares, as obtained at the Annual General Meeting held on 9 May 2017. This authorisation may be exercised up to the time of the next Annual General Meeting. The purpose of buybacks is in accordance with the decision of the Annual General Meeting.
The company’s own shares will be bought back in batches, depending on market conditions and applicable rules. With the exception of block transactions, these include the stipulation that daily buybacks cannot exceed 25 per cent of the average daily revenue in the four calendar weeks immediately preceding the week in which shares are bought back. In addition, shares may only be bought back at prices in the range between maximum buying price and lowest selling price.
As at 12 July 2017, the company had 9,333,886 outstanding shares. Since an earlier buyback of own shares, Proact holds 78,669 shares in its own custody, which is equivalent to 0.8 per cent of the total number of outstanding shares.
For further information, please contact:
Jason Clark, CEO and President, Proact IT Group AB, tel 44 1246 266300
Peter Javestad, VP / IR, Proact IT Group AB, tel 46 733 56 67 22, email@example.com
Jonas Persson, CFO, Proact IT Group AB, tel 46 733 56 66 90, firstname.lastname@example.org
Proact is Europe’s leading independent data centre and cloud services provider. By delivering flexible, accessible and secure IT solutions and services, we help companies and authorities reduce risk and costs, whilst increasing agility, productivity and efficiency. We’ve completed over 5,000 successful projects around the world, have more than 3,500 customers and currently manage in excess of 100 petabytes of information in the cloud. We employ over 800 people in 15 countries across Europe and North America. Founded in 1994, our parent company, Proact IT Group AB (publ), listed on Nasdaq Stockholm in 1999 (under the symbol PACT).
For further information about Proact’s activities please visit us at www.proact.eu
This information is information that Proact IT Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication through the agency of the contact persons set out above on 20 July 2017, at 08.00 AM CET.