Bufab Group: The Board of Directors of Bufab has resolved to utilise its authorisation to repurchase own shares
April 20 2023 - 10:00AM
Bufab Group: The Board of Directors of Bufab has resolved to
utilise its authorisation to repurchase own shares
Värnamo, April 20, 2023
The Board of Directors of Bufab AB (publ) (“Bufab”) has
resolved, pursuant to the authorisation granted by the annual
general meeting held on April 20, 2023, to repurchase the company’s
own shares on Nasdaq Stockholm. The purpose of the repurchase is to
hedge Bufab’s future delivery of shares to the participants of
Bufab’s long-term call option program which was resolved by the
2023 annual general meeting.
The repurchase may commence on May 15, 2023 and will be
administered by Svenska Handelsbanken AB, which will take trading
decisions independently of Bufab with regard to the timing of the
repurchases. However, no acquisitions will be made during a 30-day
period prior to the announcement of a financial report.
Purchases may comprise a maximum of 210,000 shares and may take
place on one or several occasions prior to the 2024 annual general
meeting. Repurchase shall be made on Nasdaq Stockholm in accordance
with the Nordic Main Market Rulebook for Issuers of Shares. The
repurchases will be made at a price within the registered price
interval at any given time, which refers to the interval between
the highest buying price and the lowest selling price. Payment for
the shares will be made in cash. Reporting will take place through
the stock exchange in accordance with applicable rules.
The total number of shares in Bufab is 38,110,533 and at the
time of this press release the company holds 381,363 own shares. In
the event of a fully executed share repurchase, the company will
hold 591,363 own shares representing approximately 1.6 per cent of
the total number of shares in the company.
For further information, please contact:Marcus Söderberg, CFO,
Bufab Group, Tel: +46 370-69 69 66
About BufabBufab AB (publ),
Corporate Registration Number 556685-6240, is a trading company
that offers its customers a full-service solution as Supply Chain
Partner for sourcing, quality control and logistics for C-Parts
(screws, nuts, etc.). Bufab’s Global Parts ProductivityTM customer
offering aims to improve productivity in the customers’ value chain
for C-Parts.
Bufab was founded in 1977 in Småland and is an international
company with operations in 28 countries. The head office is located
in Värnamo, Sweden, and Bufab has about 1,800 employees. Bufab’s
net sales for the last twelve months amounted to SEK 8,8 billion
and the operating margin was 12,1 percent. The Bufab share is
listed on Nasdaq Stockholm, under the ticker “BUFAB”. Please visit
www.bufabgroup.com for more information.
- Bufab AB - Pressrelease regarding utilisation of its
authorisation to repurchase own shares
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