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On 16 August 2016 Solar announced a share buy-back programme of up to DKK 150m, which gave all B shareholders an opportunity to sell their shares in Solar. The price range for the share buy-back was DKK 330 – 400 per B share. The offer period expired on 30 August 2016 at 16:00 CET, and the acceptances submitted have now been assessed. On this basis, Solar’s Board of Directors has decided to buy back a total of 382,160 B shares at DKK 392.5 per share of a nominal value of DKK 100, corresponding to a total purchase sum of DKK 150m. Shareholders who wished to sell 50 or fewer B shares have been settled in full. Shareholders who wished to sell more than 50 B shares have been settled in full for the first 50 shares and pro rata at 73.62% for the shares exceeding 50 B shares. Trading of the B shares will be registered on 31 August 2016, and the settlement of the share buy-back is expected to be completed on 2 September 2016 via the individual shareholder's depositary bank or stockbroker. As of today, Solar owns 622,315 treasury shares, corresponding to 7.86% of Solar's total share capital and 3.88% of votes, including 382,160 B shares that were purchased in this buy-back programme. Yours faithfully Solar A/S Anders Wilhjelm |
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Facts about Solar
Solar Group is a leading European sourcing and services company, operating primarily within the electrical, heating and plumbing, and ventilation technology sectors. Our core business centres on product sourcing, value-adding services and optimisation of our customers’ businesses.
Being a sourcing and services company, we focus on each individual customer. We always strive to understand our customers’ unique and genuine needs in order to provide relevant, personal and value-adding services, turning our customers into winners.
Solar Group is headquartered in Denmark, generated revenue of approximately DKK 10.6bn in 2015 and has some 3,000 employees. Solar has been listed on Nasdaq Copenhagen since 1953, and operates under the short designation SOLAR B.
For more information, please visit www.solar.eu.
Disclaimer
This announcement was published in English and Danish today via Nasdaq Copenhagen. In the event of any inconsistency between the two versions, the English version shall prevail.
