Loomis AB Board Approves Share Repurchase Program Initiative
The Board of Directors of Loomis AB has made a significant decision to continue share repurchase initiatives. This decision aligns with the authorization granted during the most recent Annual General Meeting.
Details of the Share Repurchase
The repurchase is set to begin shortly and will occur over a specified period. The aim is for the company to repurchase shares amounting to a maximum of SEK 200 million. These repurchased shares will be acquired on Nasdaq Stockholm, taking various market conditions into account, including the rates between buying and selling prices observed during transactions.
Execution and Management of the Repurchase
Danske Bank A/S will manage the actual share repurchase program, acting independently based on the trading orders provided by Loomis. It will make strategic decisions regarding the timing and volume of the repurchase, ensuring that operations move forward seamlessly.
Purpose of the Repurchase Program
The intent behind this repurchase initiative is multifaceted. Primarily, it aims to support shareholder value by reducing the number of outstanding shares in the market. This strategy could potentially enhance earnings per share and contribute to better overall market performance.
Current Shareholding Status
Currently, Loomis holds 1,924,553 shares of its own stock, out of a total share count of 71,000,000 shares. This highlights the company’s commitment to actively manage its capital and optimize its stock structure.
Transparency and Reporting
Reports regarding the progress of the share repurchase will be submitted to the stock exchange as per the applicable corporate governance standards. This practice not only enhances transparency but also keeps investors informed about the ongoing financial strategies of Loomis AB.
Contact for More Information
For those interested in more information about the company’s share repurchase program, inquiries can be directed to Jenny Boström, the Head of Sustainability and Investor Relations. Jenny can be reached at +46 79 006 45 92.
Frequently Asked Questions
What is the main purpose of Loomis AB's share repurchase program?
The primary goal is to enhance shareholder value by reducing the number of shares outstanding in the market.
How much is Loomis AB planning to spend on the share repurchase?
The company aims to repurchase up to SEK 200 million worth of its own shares.
When is the repurchase program expected to start?
The program is expected to commence shortly, with specific timelines adapted according to market conditions.
Who will manage the execution of the share repurchase?
Danske Bank A/S will oversee the execution of the share repurchase program, making independent trading decisions based on Loomis's directives.
How many shares does Loomis AB currently hold?
Loomis currently holds 1,924,553 of its own shares, within a total of 71,000,000 shares outstanding.
