Volati’s board of directors has resolved on acquisitions of own ordinary shares
The board of directors of Volati AB (publ) has, based on the authorisation from the annual general meeting, today on 25 April 2019 resolved that the company shall acquire a maximum of 3,000,000 own ordinary shares on Nasdaq Stockholm.
The purpose of the acquisitions is to achieve flexibility regarding the company’s equity and thereby enable an optimised capital structure. From the annual general meeting 2018, Volati had a corresponding authorisation to acquire 3,000,000 own ordinary shares. This authorisation has been exercised through the repurchase of 1,000,000 ordinary shares for the price of SEK 44.825 per share, which took place on 25 April 2019.
“We continuously evaluate our capital structure and, in some cases, repurchase of own shares can be a suitable tool for optimising this. We have therefore decided to have the same opportunity to acquire own ordinary shares also until the annual general meeting in 2020 that we had after the annual general meeting 2018,” says Mårten Andersson, CEO of Volati.
Terms and conditions for acquisitions of own ordinary shares
The company’s acquisitions of own ordinary shares shall, pursuant to the board of directors’ resolution, be made on Nasdaq Stockholm in accordance with the rules set out in Nasdaq Stockholm’s Rule Book for Issuers and the following terms and conditions.
- Acquisitions may be made on one or several occasions until the annual general meeting 2020.
- A maximum of 3,000,000 ordinary shares may be acquired. The company’s holding of own shares may not at any time exceed one tenth of all shares in the company.
- Acquisitions may be made at a price within the registered price interval at any given time.
- Acquired ordinary shares shall be paid in cash.
Total number of shares in the company and the company’s holding of own shares
As of today on 25 April 2019, the total number of shares in the company is 82,010,345 shares, of which 80,406,571 are ordinary shares and 1,603,774 are preference shares. Of the outstanding ordinary shares of 80,406,571, the company holds 1,000,000 shares acquired through repurchases on Nasdaq Stockholm on April 25, 2019.
Reporting of and information on acquisitions of own ordinary shares
Acquisitions of own ordinary shares will be reported in accordance with applicable laws and regulations as well as Nasdaq Stockholm’s Rule Book for Issuers. Information on completed acquisitions will also be available on the company’s website, www.volati.se.
For further information, please contact:
Mårten Andersson, managing director of Volati AB (publ), +46 (0)72 735 42 84, marten.andersson@volati.se
This information is information that Volati 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 person set out above, at 19.00 CET on 25 April 2019.
Volati AB (publ)
Engelbrektsplan 1, SE-114 34 Stockholm, Sweden
Tel: +46 (0)8 21 68 40, email: info@volati.se
Company reg. no 556555-4317
About Volati
Volati is a Swedish industrial group, formed in 2003, organised in four business areas: Trading, Consumer, Akademibokhandeln and Industry. Volati mainly acquires reasonably valued companies with proven business models, leading market positions and strong cash flows and develops them with a focus on long-term value creation. The strategy is to build on the companies’ identity and entrepreneurial spirit, adding leadership, expertise, processes and financial resources. Volati has operations in 16 countries, over 2,000 employees and annual sales of approximately SEK 7 billion. Volati’s ordinary shares and preference shares are listed on Nasdaq Stockholm. Further information is available at www.volati.se.