COM HEM REPURCHASES OWN SHARES
The Board of Directors of Com Hem Holding AB (publ) has today resolved to continue to exercise the authorization to resolve on repurchase of shares that was given by the Annual General Meeting held on May 19, 2016.
The Board of Com Hem Holding AB (”Com Hem” or the ”Company”) has today resolved to initiate a share buyback program for a total amount of up to SEK 450 million up until November 30, 2016.
Repurchased shares will reduce Com Hem’s share capital by shares being cancelled, after sufficient number of shares have been saved to be used for delivery of shares under Com Hem’s 2015 and 2016 LTIP Programs. The program is being carried out in accordance with the Regulation (EU) No 596/2014 of the European Parliament and of the Council of April 16, 2014 (“MAR”). The buy-back program will be managed by a securities company or credit institution that makes its trading decisions regarding Com Hem’s shares independently of, and without influence by, Com Hem with regard to the timing of the repurchases.
The buy-back program resolved upon by the Board shall meet the following terms:
- Repurchases of shares are to be made on Nasdaq Stockholm and in accordance with Nasdaq Stockholm’s Rule Book for Issuers and in accordance with MAR.
- Share repurchases can be made from July 13, 2016 to November 30, 2016.
- Repurchases of shares on the Nasdaq Stockholm are to be made at a per-share price within the registered interval for the going rate at any given time, which denotes the interval between the highest and lowest selling price.
- Shares for a total maximum amount of MSEK 450 may be repurchased, of which shares for a maximum amount of MSEK 250 may be purchased for the period between July 13, 2016 to September 30, 2016 (both days included) and for a maximum amount of MSEK 200 for the period between October 1, 2016 to November 30, 2016 (both days included).
- A maximum of 18,000,000 shares may be repurchased. The Company’s holding of its own shares may not at any time exceed 10 per cent of the outstanding shares in the Company.
- Payment for the shares is to be made in cash.
The Board has also resolved on the possibility to, up until the Annual General Meeting 2017, make repurchases through block transactions. Repurchases of shares are to be made on Nasdaq Stockholm and in accordance with Nasdaq Stockholm’s Rule Book for Issuers, for a consideration in cash, at a per-share price within the registered interval for the going rate at any given time, which denotes the interval between the highest and lowest selling price. Repurchases may not result in that the Company’s holding of its own shares, at any time, exceeds 10 per cent of the outstanding shares in the Company. Any block trades will not be managed by the securities company or credit institution carrying out the buy-back program above. No block trades are to be carried out within 30 days before publication of an interim report.
The total number of shares in Com Hem amounts to 192,874,019. Com Hem currently owns 1,217,720 own shares.
For queries, please contact:
Media
Fredrik Hallstan, Head of PR
Tel: +46(0)761 15 38 30
press@comhem.com
Investors
Petra von Rohr, Director IR & Corporate Communications
Tel: +46(0)734 39 06 54
investor.relations@comhem.com
This information is information that Com Hem Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 09:30 CET on July 12, 2016.
About Com Hem
Com Hem offers broadband, TV, play and telephony services to Swedish households and companies. Approximately 40 percent of the country's households are connected to Com Hem's network, making Com Hem an important driver of digital Sweden. We offer broadband speeds of up to 1 Gbit /s and a wide range of channels via digital TV at home or mobile via Com Hem Play. The company was founded in 1983 and has approximately 1,200 employees including about 700 within customer service. Com Hem is headquartered in Stockholm and operates through three subsidiaries; Com Hem AB, Phonera Företag AB and iTUX Communication AB. In 2015, Group sales totaled SEK 5,000 million. Since 2014 the Com Hem share is listed on Nasdaq Stockholm. www.comhemgroup.se.
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