Solid Försäkringsaktiebolag´s (publ) Board of Directors has, based on the authorization from the Annual General Meeting on 26 April 2023, decided to initiate a share buy-back program.
The purpose with the share buy-back program is to give the Board an instrument to continuously adapt and improve the company’s capital structure and thereby create additional value for the shareholders. In addition, the buy-back program enables the Board to transfer shares to the participants in LTIP 2023. The intention for the shares that are repurchased and that are not attributable to future delivery of shares in relation to LTIP 2023 is to finally be cancelled by resolutions at future general meetings.
The repurchase of shares may only be effected on Nasdaq Stockholm, on one or several occasions during the period up to the Annual General Meeting 2024, in accordance with the following terms and conditions:
- Acquisition of own shares may occur of at most as many shares as are needed so that the company’s holdings of own shares at any given time do not exceed five (5) per cent of all shares in the company.
- Acquisition of own shares must occur on Nasdaq Stockholm in accordance with Nasdaq Stockholm’s Rule Book for Issuers.
- Acquisition of own shares may only be effected on Nasdaq Stockholm at a price per share within the registered span of share prices at the particular time, by which is meant the span between the highest price paid and the lowest selling price, or if the Board instructs a member of Nasdaq Stockholm to accumulate a specific number of the company’s shares for its own account during a limited period, at a price per share within the price interval at the time or an equivalent volume‐weighted average price.
- The shares are to be paid for in cash.
Completed acquisitions of own shares will be disclosed and reported in accordance with applicable laws and regulations as well as Nasdaq Stockholm Rulebook for Issuers.
Solid Försäkringsaktiebolag currently holds 716,478 treasury shares. The Annual General Meeting on April 26, 2023 decided on the cancellation of all 716,478 shares that were previously repurchased by Solid Försäkringsaktiebolag. However, the withdrawal has not yet been registered at the time of this press release. The total number of shares and votes in Solid Försäkring will after the cancellation amount to 19,283,522.
For the complete authorization resolved on by the Annual General Meeting of Solid Försäkringsaktiebolag on 26 April 2023, please refer to Solid Försäkringsaktiebolag´s website, https://corporate.solidab.se/en/