Essity's Recent Buyback of Class B Shares
In the past week, Essity Aktiebolag (publ) made a notable move by repurchasing 270,000 of its own Class B shares. This action is part of a broader buyback initiative launched by the company's Board of Directors.
Understanding the Buyback Program
The buyback program, which has a significant budget of SEK 3 billion, was first announced earlier this year. The goal is to carry out the buyback until the next Annual General Meeting in 2025, in compliance with the EU Market Abuse Regulation (MAR).
Funding the Buyback
Essity intends to fund this share repurchase using cash flow generated from its ongoing operations. This strategy underscores Essity's dedication to delivering value to shareholders while maintaining stability in its capital allocation practices.
Overview of the Share Purchases
Below is a detailed summary of the share purchases completed during the week:
Weekly Transactions in Review
During this week, Essity's transactions were facilitated by Danske Bank on Nasdaq Stockholm. The transactions took place from September 2 to September 6, 2024, resulting in a total of 270,000 shares being repurchased:
Total shares repurchased: 270,000
Average price per share: 314.6216 SEK
Total transaction value: 84,947,821 SEK
Current Treasury Holdings
As of now, following these transactions, Essity holds a total of 3,186,000 Class B shares in its treasury. The company's overall share count stands at 702,342,489, which includes 60,412,986 Class A shares and 641,929,503 Class B shares.
For More Information
For any questions regarding this buyback announcement, interested parties can reach out to Sandra Åberg, Vice President of Investor Relations, for further details. She can be contacted at +46 70 564 96 89.
Frequently Asked Questions
What is the total number of Class B shares Essity repurchased?
Essity repurchased a total of 270,000 Class B shares during this period.
What is the total value of the share buyback program?
The total budget for the buyback program is SEK 3 billion.
When was the buyback program announced?
The buyback program was announced on June 17, 2024.
How is Essity financing the buyback?
Essity is financing the buyback through cash flow derived from its ongoing operations.
Who manages the transactions for Essity's buyback?
Danske Bank manages the share purchase transactions on behalf of Essity.
