Saab utilises AGM's authorisation to repurchase own series B shares.
NORDIC BUSINESS REPORT-June 6, 2019-Saab utilises AGM's authorisation to repurchase own series B shares
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Swedish aerospace and defence company Saab AB (STO:SAABB) announced on Wednesday the decision by its board of directors to utilise the authorisation of its Annual General Meeting to repurchase own shares of series B to secure delivery of shares to participants under its employee incentive plans.
Acquisitions of these shares will be managed by an investment firm or credit institution that makes its trading decisions regarding the timing of the share acquisitions independently of Saab.
A maximum of 1,000,000 series B shares at a total cost not exceeding SEK425m may be acquired. Purchases are to be made on Nasdaq Stockholm at a per-share price within the price range (spread) applicable from time to time, meaning the spread between the highest purchase price and the lowest selling price.
In addition, acquisitions of shares can be made until the Annual General Meeting 2020 and payment for the shares is to be made in cash.
As on 5 June 2019, Saab's holding of own shares is 2,134,481 shares of series B. The total number of outstanding shares in the company is 135,845,847.
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|Publication:||Nordic Business Report|
|Date:||Jun 6, 2019|
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