Bulten AB (publ) utilizes authorization for the acquisition of own shares
The Board of Bulten AB (publ) has decided to use the authorization given by the Annual General Meeting on 25 April 2019 to make a decision concerning acquisition of the company’s own shares.
The Board of Bulten AB (publ) (hereafter “Bulten” or the Company”) has decided to use the authorization given by the Annual General Meeting on 25 April 2019 to buy back the Company’s shares. The company may not hold more than 10 percent of the company's shares at any time. The total number of shares in Bulten AB is 21,040,207. At the time of this press release, Bulten holds 964 311 own shares.
The Annual General Meeting authorized the Board to decide on the acquisition of the company's own shares in accordance with the following conditions:
- Acquisition shall take place on Nasdaq Stockholm (“the Exchange”).
- Acquisition may take place on one or more occasions prior to the 2020 Annual General Meeting.
- Acquisitions may be made up to a maximum of so many shares that the company's holdings after the acquisition total up to a tenth of all shares in the company.
- Acquisition via the Exchange may solely take place at a price per share that is within the registered price interval at any time, or in the event that the Board invites an Exchange member to accumulate a specific number of the Company’s shares for its own account during a limited period, at a price per share that is within the registered price interval at any time or corresponding volume-weighted average price.
- Payment for bought-back shares shall be made in cash.
- The rules of the Exchange shall be observed when acquisition is carried out.
The purpose of the authorisation for the acquisition of the company’s own shares is to give the Board greater freedom of action and the ability to continuously adapt the company's capital structure and thereby contribute to increased shareholder value while also enabling the Board to exploit attractive acquisition opportunities by fully or partially financing the acquisition of companies, business or assets with the company’s own shares.
For further information, please contact:
Anders Nyström, President and CEO, Bulten AB
Helena Wennerström, CFO and EVP, Bulten AB
Tel: + 46 (0)31-734 59 00, e-mail: email@example.com
Bulten AB (publ) is one of the leading suppliers of fasteners to the international automotive industry. The company’s product range includes everything from customer-specific standard products to specialist, customized fasteners. The company also provides technical development, line-feeding, logistics, material and production expertise. Bulten offers a Full Service Provider concept or parts thereof. The company was formed in 1873, has 1,400 employees in eight countries and its head office is in Göteborg, Sweden. The company’s shares (BULTEN) are listed on Nasdaq Stockholm. Read more at www.bulten.com.