Trelleborg exercises its authorization to acquire treasury shares

0

Trelleborg’s Board of Directors has decided to exercise the authorization given by the Extraordinary General Meeting of December 28, 2021to acquire its own Series B shares.

The acquisition of shares will be carried out in accordance with the Market Abuse Regulation (EU) No. 596/2014 (“MAR”) and Commission Delegated Regulation (EU) No. 2016/1052 (the “Safe Harbor Regulation”) . Acquisitions of shares will be managed by an investment company or credit institution that makes its business decisions independently of Trelleborg regarding the timing of the acquisition of shares of Trelleborg.

The buyback program is subject to the following conditions:

(i) acquisitions must be made on Nasdaq Stockholm in accordance with the Nordic Main Market Rulebook for Issuers of Shares (the “Rulebook”) as well as in compliance with MAR and the Safe Harbor Regulation;

(ii) acquisitions may take place between March 28, 2022 and April 26, 2022;

(iii) a maximum of 2,500,000 Series B Shares may be redeemed for an aggregate maximum amount of 400 million Swedish crownshowever, the company’s ownership of treasury stock may not at any time exceed 10 percent of the outstanding shares of the company;

(iv) purchases may only be made at a price which is within the prevailing price range recorded at all times (i.e. the range between the highest purchase price and the lowest sale price) and in addition, in accordance with the price restrictions in the Safe Harbor regulations;

(v) acquisitions may only be made subject to the volume restrictions for acquisitions of treasury shares set out in the rulebook and in the Safe Harbor Regulations; and

(vi) payment for shares acquired will be made in cash.

The purpose of the decision of the Board of Directors is to begin to adapt the capital structure of the company and thus contribute to the increase in shareholder value. The intention is that shares subsequently redeemed will be canceled by resolution of future annual general meetings.

Trelleborg’s total number of shares as of the date of this press release is 271,071,783, of which 28,500,000 are Series A shares and 242,571,783 are Series B shares. own share at the time of this press release.

For more information, please contact:
Media: Vice President Media Relations Karin Larson+46 (0)410 67015, +46 (0)733 747015, [email protected]
Investors/analysts: RI Vice President Christofer Sjögren, +46 (0)410 67068, +46 (0)708 665140, [email protected]

Trelleborg is a global leader in engineered polymer solutions that seal, cushion and protect critical applications in demanding environments. Its innovative solutions sustainably accelerate customer performance. The Trelleborg Group has annual sales of approximately 34 billion Swedish crowns and operations in approximately 50 countries. The Group comprises three areas of activity: Trelleborg Industrial Solutions, Trelleborg sealing solutions and Trelleborg wheel systems, the latter of which is accounted for as an asset held for sale. The Trelleborg share was listed on the stock Exchange since 1964 and is listed on Nasdaq Stockholm, Large Cap. www.trelleborg.com

https://news.cision.com/trelleborg/r/trelleborg-exercises-authorization-to-acquire-own-shares,c3532122

https://mb.cision.com/Main/584/3532122/1553596.pdf

(c) Decision 2022. All rights reserved., sources Press Releases – English

Share.

About Author

Comments are closed.