Saab utilises authorisation to repurchase own shares
The Saab Annual General Meeting 2019 resolved to authorise the Board of Directors to decide to repurchase the company’s own shares of series B in order to secure delivery of shares to participants in Saab’s long-term Share Matching Plan, Performance Share Plan and Special Projects Incentive. Saab announces that the Board of Directors today has decided to utilise its authorisation for this purpose.
Acquisitions of shares will be carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (”MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the ”Safe Harbour Regulation”). Acquisitions of shares will be managed by an investment firm or credit institution that makes its trading decisions regarding the timing of the acquisitions of Saab’s shares independently of Saab.
The buy-back programme is subject to the following terms:
- A maximum of 1,000,000 shares of series B at a total amount not exceeding 425 MSEK may be acquired.
- Acquisitions are to be made on Nasdaq Stockholm in accordance with its Rule Book for Issuers, MAR and the Safe Harbour Regulation.
- The shares shall be purchased at a per-share price within the price range (spread) on Nasdaq Stockholm applicable from time to time, meaning the spread between the highest purchase price and the lowest selling price prevailing and disseminated by Nasdaq Stockholm from time to time.
- Acquisitions of shares can be made until the Annual General Meeting 2020.
- Payment for the shares is to be made in cash.
Saab’s holding of own shares is 2,134,481 shares of series B as per 5 June 2019. The total number of outstanding shares in the company is 135,845,847.
For further information, please contact:
Saab Press Centre,
+46 (0)734 180 018
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Saab serves the global market with world-leading products, services and solutions within military defence and civil security. Saab has operations and employees on all continents around the world. Through innovative, collaborative and pragmatic thinking, Saab develops, adopts and improves new technology to meet customers’ changing needs.