IFS repurchases own shares
The board of directors of Industrial and Financial Systems, IFS AB
("IFS"), (XSTO: IFS), has decided, on the basis of the authorization
received from the annual general meeting 2010, to repurchase a maximum
of 265,000 shares of Series B in IFS, which corresponds to approximately
1 percent of all shares in the company, for a maximum aggregate
consideration of SKr 30 million. The purpose of the repurchase is to
accord the board a greater possibility to adjust the company's capital
structure and thereby contribute to increased stockholder value.
The repurchase will be made on NASDAQ OMX Stockholm pursuant to
applicable rules at a share price that falls within the registered range
between the highest bid price and the lowest asking price at the time of
acquisition, provided the price does not exceed the higher of the price
of the last independent trade and the highest current independent bid
price. Repurchases will be made during the period from February 17 up to
the forthcoming annual general meeting, subject to prevailing legal
provisions.
The total number of outstanding shares of all series in IFS currently
amounts to 26,442,922, of which 500,000 shares of Series B are owned by
the company.
Contact Information
Anne Vandbakk
Telefon: 46 8 58 78 45 00
Corporate Communications Director
anne.vandbakk@ifsworld.com (anne.vandbakk@ifsworld.com)
Frédéric Guigues
Telefon: 46 8 58 78 45 00
Investor Relations
frederic.guigues@ifsworld.com (frederic.guigues@ifsworld.com)
IFS repurchases own shares
| Source: Industrial & Financial Systems, IFS AB