Solid Försäkringsaktiebolag : Försäkringsaktiebolag to repurchase shares
May 08, 2024 at 02:33 am EDT
Share
English
Swedish
Published: 2024-05-08 08:25:00 CEST
Solid Försäkringsaktiebolag
Changes in company's own shares
Solid Försäkringsaktiebolag to repurchase shares
Solid Försäkringsaktiebolag´s (publ) Board of Directors has, based on the authorization from the Annual General Meeting on 25 April 2024, 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 incentive programs. The intention for the shares that are repurchased and that are not attributable to future delivery of shares in relation to incentive programs 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 2025, in accordance with the following terms and conditions:
Purchases of own shares may take place of a maximum of so many shares that the company's holding of own shares at any given time does not exceed five (5) per cent of all shares in the company.
Purchases of own shares shall take place on Nasdaq Stockholm in accordance with Nasdaq Stockholm's Rulebook for Issuers.
Purchases of own shares may only take place at a price per share within the price range registered on Nasdaq Stockholm at any given time, by which is meant the interval between the highest purchase price and the lowest selling price, or, in the event that the Board instructs a stock exchange member on Nasdaq Stockholm to accumulate a certain amount of the company's shares in its own book during a certain time period, at a price per share within the price range at the time or the corresponding volume-weighted average price.
Payment for the shares shall be made in cash.
Completed purchases 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 874,978 treasury shares. The Annual General Meeting on April 25, 2024 decided on the cancellation of 806,169 shares that were previously repurchased by Solid Försäkringsaktiebolag, which means that 68,809 shares remain in the Company's ownership. 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 18,477,353.
For the complete authorization resolved on by the Annual General Meeting of Solid Försäkringsaktiebolag on 25 April 2024, please refer to Solid Försäkringsaktiebolag´s website, https://corporate.solidab.se/en/
Contacts
Marcus Tillberg, CEO, marcus.tillberg@solidab.se; +46 (0)70-378 20 65
Sofia Andersson CFO, sofia.andersson@solidab.se, +46 (0)70-042 11 77
Johan Hähnel, Head of IR, johan.hahnel@solidab.se, +46 (0)70-605 63 34
About Solid Försäkring
Solid Försäkring is a non-life insurance company founded in 1993. Solid Försäkring focuses on niche insurance, with the Nordic region as its core market. The non-life insurance operations are divided into three segments: Product, Personal Safety and Assistance. Solid Försäkring has a strong customer base of private customers in the Nordic region which are primarily sourced through partnerships with leading retail chains within several different industries and banks, credit market companies and other financial institutions, travel agencies, car dealerships and car repair shops. Solid Försäkringsaktiebolag is listed on Nasdaq Stockholm.
Attachments:
Solid Forsakringsaktiebolag to repurchase shares.pdf
This news release was distributed by Company News System, www.nasdaqomxnordic.com/news/marketnotices
To subscribe on regulatory news from this company, go to the subscription page
Attachments
Original Link
Permalink
Disclaimer
Solid FAB published this content on
08 May 2024 and is solely responsible for the information contained therein. Distributed by
Public, unedited and unaltered, on
08 May 2024 06:32:06 UTC.
Solid Forsakringsaktiebolag is a Sweden-based non-life insurance company. The Company's main focus is on insurances of a niche nature, with the Nordic region as the main market. Its business is divided into the three segments: Product, Security and Assistance. The Product segment offers all-risk insurance and deductibles for a wide range of product categories in the form of both individual insurances and group insurance solutions (mainly compulsory group insurances). The Security segment includes income insurance, payment protection insurance (PPI), ID theft insurance and accident insurance. The Assistance segment offers roadside assistance, insurance linked to vehicle guarantees and the recently launched Deductible Assistance (deductible expenses) as well as various insurance products aimed at the travel industry. The Company operates in Scandinavia.