VALLETTA, Malta, Feb. 9, 2022 /PRNewswire/ -- Kindred Group's Board of Directors has decided to start exercising the buy-back mandate which received at the Extraordinary General Meeting on 10 June 2021. The buy-back program will run between 10 February and 12 May 2022 and amounts to a total of up to SEK 300 million.
The Board of Directors of Kindred Group plc has, empowered by a mandate received at the Extraordinary General Meeting on 10 June 2021, decided to initiate a share buy-back programme. The purpose of the programme is to return excess cash to the shareholders in line with the Company's distribution policy.
Kindred has entered into an irrevocable agreement with Nordea Bank Abp to conduct the share repurchases on its behalf. The acquisition of shares shall take place on Nasdaq Stockholm or other regulated markets and Nordea will make its trading decisions in relation to Kindred's shares independently of, and without influence by, Kindred in accordance with the Maltese Companies Act, EU Market Abuse Regulation No. 596/2014 ("MAR") and the applicable rules of Nasdaq's Nordic Main Market Rulebook for Issuers of Shares.
The buy-back programme decided by the Board of Directors shall meet the following terms:
Following repurchase, the intention of the Board is to cancel the repurchased shares/SDRs.
At the time of this announcement, the total number of outstanding shares/SDRs in the company is 230,126,200 and Kindred's holding of own shares/SDRs is 7,486,839.
This disclosure contains information that Kindred Group is obliged to make public pursuant to the EU Market Abuse Regulation (EU No. 596/2014). The information was submitted for publication, through the agency of the contact person, on 09-02-2022 12:30 CET.
CONTACT:
For more information:
Patrick Kortman, Head of Corporate Development & Investor Relations, +46 723 877 438
Linda Lyth, Investor Relations Manager, +46 767 681 337
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The following files are available for download:
Press release - Share buy-back programme 9 February 2022 |
SOURCE Kindred Group