Bufab Group: The Board of Directors of Bufab has resolved to utilise its authorisation to repurchase own shares
Värnamo, July 18, 2017
The Board of Directors of Bufab has resolved to utilise its authorisation to repurchase own shares
The Board of Directors of Bufab AB (publ) ("Bufab") has resolved, pursuant to the authorisation granted by the annual general meeting held on 4 May 2017, to repurchase the company's own shares on Nasdaq Stockholm. The purpose with the repurchase is to hedge Bufab's future delivery of shares to the participants of Bufab's long-term call option program which was resolve by the 2017 annual general meeting.
The repurchase may commence on 19 July 2017 at 1.00 pm CET and will be administered by Svenska Handelsbanken AB, which will take trading decisions independently of Bufab with regard to the timing of the repurchases.
Purchases may comprise a maximum of 350,000 shares and may take place on one or several occasions prior to the 2018 annual general meeting. Repurchase shall be made on Nasdaq Stockholm in accordance with its Rule Book for Issuers. The repurchases will be made at a price within the registered price interval at any given time, which refers to the interval between the highest buying price and the lowest selling price. Payment for the shares will be made in cash. Reporting will take place through the stock exchange in accordance with applicable rules.
The total number of shares in Bufab is 38,110,533 and at the time of this press release the company holds no own shares. In the event of a fully executed share repurchase, the company will own shares representing approximately 0.9 per cent of the issued shares in the company.
For further information, please contact:
Jörgen Rosengren, President and CEO, Bufab Group, telephone: +46 370 69 69 01
Bufab AB (publ), Corporate Registration Number 556685-6240, is a trading company that offers its customers a full-service solution as Supply Chain Partner for sourcing, quality control and logistics for C-Parts (screws, nuts, etc.). Bufab's Global Parts ProductivityTM customer offering aims to improve productivity in the customers' value chain for C-Parts.
Bufab was founded in 1977 in Småland and is an international company with operations in 24 countries. The head office is located in Värnamo, Sweden, and Bufab has about 1 000 employees. Bufab's net sales for the past 12 months amounted to SEK 2.9 billion and the operating margin was 10 percent. The Bufab share is listed on Nasdaq Stockholm, under the ticker "BUFAB". Please visit www.bufab.com for more information.