Bilia decides to buy back own shares Gothenburg, S

Gothenburg, Sweden, 2017-10-31 14:15 CET (GLOBE NEWSWIRE) -- Within the framework of the authorisation obtained from the Annual General Meeting on 19 April 2017 to acquire no more than 10 per cent of the shares in Bilia AB, the Board of Directors has resolved to initiate the buy-back of own shares. The authorisation is valid until the next Annual General Meeting in April 2018.

• Before the start of the buy-back, Bilia owns 1,224,000 of its own shares. The number of outstanding shares as of today is 101,575,952.
• No more than 625,000 shares will be repurchased.
• The buy-backs will take place on the Nasdaq OMX Stockholm exchange at a price that lies within the price range recorded at any given time, by which is meant the range between the share’s highest and lowest selling price.
• The buy-backs will begin on 2 November 2017 and take place subject to existing rules.

The purpose of the buy-backs is to optimise Bilia’s capital structure and, should the occasion arise, to use shares as a means of payment for future acquisitions.

Gothenburg, 31 October 2017

Bilia AB (publ)

This information is information that Bilia 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, on 31 October 2017, at 14:15 p.m. CET.

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Bilia offers car sales, service and supplementary services and is one of Europe’s largest car chains with operations in Sweden, Norway, Germany, Luxembourg and Belgium. Bilia reported a turnover of SEK 23.9 bn in 2016 and had 4,327 employees.

         For further information please contact CEO Per Avander or CFO Kristina Franzén, Bilia AB, tel: +46 10 497 70 00.