Electrolux Board Authorizes Additional Purchase of Own Shares.STOCKHOLM, Sweden -- The Electrolux (STO:ELUXB)(PINK SHEETS:ELUX ELUX Embedded Linux ) Board has authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: additional share repurchases Share Repurchase A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued. in accordance with the authorization by the Annual General Meeting of Shareholders in April 2006. The Annual General Meeting authorized the Board of Directors to acquire and transfer own shares during the period up to the next Annual General Meeting. Shares of series A and/or B may be acquired on condition that after each transaction the company owns a maximum of 10% of the total number of shares. Purchases of shares may only be made through transactions on the Stockholm Stock Exchange The Stockholm Stock Exchange (Swedish: Stockholmsbörsen) is a stock exchange located in Stockholm, Sweden. Founded in 1863 [1] it is the primary securities exchange of the Nordic Countries. at a price within the prevailing registered price interval. Electrolux currently owns 12,661,155 previously repurchased B-shares, corresponding to 4,1 % of the total number of shares. Based on the Board's mandate Electrolux has the possibility to repurchase an additional 18,230,876 shares of a total of 308,920,308 shares. The purpose of the buybacks is to continually maintain the capability to adapt the capital structure to the needs of the company, thereby contributing to increased shareholder value, and to use the repurchased shares for financing potential corporate acquisitions and the company's long-term incentive program. Electrolux is a global leader in home appliances and appliances for professional use, selling more than 40 million products to customers in 150 countries every year. The company focuses on innovations that are thoughtfully designed, based on extensive consumer insight, to meet the real needs of consumers and professionals. Electrolux products include refrigerators, dishwashers, washing machines (storage) washing machine - An old-style 14-inch hard disk in a floor-standing cabinet. So called because of the size of the cabinet and the "top-loading" access to the media packs - and, of course, they were always set on "spin cycle". , vacuum cleaners vacuum cleaner, mechanical device using a draft of air to remove dust, loose dirt, or other particulate matter from dry surfaces. It is especially useful on highly textured surfaces, such as carpets and upholstery, that are difficult to clean by wiping or brushing. and cookers sold under esteemed brands such as Electrolux, AEG-Electrolux, Zanussi, Eureka and Frigidaire. In 2005, Electrolux had sales of SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 100 billion and 57,000 employees. For more information, visit http://www.electrolux.com/press. This information was brought to you by Waymaker http://www.waymaker.net |
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