On 15th July 2015, the Board of Directors of Intrum Justitia AB (publ) resolved
to initiate a share repurchase program. The purpose of the program is to reduce
Intrum Justitia’s share capital by cancelling the shares that are repurchased.
Through the program, Intrum Justitia will return further funds to shareholders
and it is the assessment of the Board of Directors that this will give the
company a more optimal capital structure.
Intrum Justitia’s Annual General Meeting of April 22, 2015 authorized the Board
of Directors to resolve on repurchase of own shares. The Board of Directors has
exercised this authorization and intends to conduct share repurchases between
17th of July until 21st of September 2015.
The program is being carried out in accordance with the European Commission’s
ordinance (EC) No. 2273/2003 of December 22, 2003 (the EC ordinance) and will be
managed by a securities company or credit institution that makes its trading
decisions regarding Intrum Justitia’s shares independently and uninfluenced by
Intrum Justitia. Any additional repurchases through block transactions will not
be made in accordance with the exemption in the EC ordinance and will be managed
by a securities company or credit institution in consultation with Intrum
Justitia.
The repurchases of the company’s own shares will meet the following terms:
1.
Repurchases of shares are to be made on the Nasdaq Stockholm Exchange and in
accordance with Nasdaq Stockholm’s regulations for issuers and in accordance
with the EC ordinance.
2.
Repurchases of shares on the Nasdaq Stockholm Exchange shall be made at a per
-share price within the registered interval for the going rate at any given
time, which denotes the interval between the highest and lowest selling price.
3.
A maximum of 7.342.132 shares may be repurchased, corresponding to 10 percent of
shares in the company.
4.
Repurchases for a maximum of SEK 100 million may be made.
5.
Payment for the shares is to be made in cash.
Intrum Justitia currently holds 384 439 own shares. The Board of Directors
intends to propose to the 2016 Annual General Meeting that the share capital in
the company be reduced by cancelling the repurchased shares.
For further information, please contact:
Erik Forsberg, CFO,
Tel: + 46 8 546 102 02
Intrum Justitia is Europe’s leading Credit Management Services (CMS) group,
offering comprehensive services, including purchase of receivables, designed to
measurably improve clients’ cash flows and long-term profitability. Founded in
1923, Intrum Justitia has some 3,800 employees in 20 markets. Consolidated
revenues amounted to about SEK 5.2 billion in 2014. Intrum Justitia AB is listed
on Nasdaq Stockholm since 2002. For further information, please visit
www.intrum.com
