The purpose of the share buyback programme is to optimise the company’s capital structure and thereby to create value for the shareholders. SinterCast intends to cancel the repurchased shares by resolution at a future AGM, which will further improve earnings per share.
Share buyback programme 2023
On 21 November 2023, SinterCast launched a share buyback programme of an initial amount of up to SEK five (5) million. Repurchases shall be made in advance of the SinterCast AGM 2024, to be held on 21 May 2024, in accordance with the following conditions:
- Share repurchases shall take place on Nasdaq Stockholm in accordance with the rules concerning the purchase of own shares set out in Nasdaq Stockholm rules for issuers by ABG Sundal Collier on behalf of SinterCast.
- Repurchases of shares on Nasdaq Stockholm shall take place at a price per share within the quoted price range registered at any given time, by which is meant the interval between the highest purchase price and the lowest selling price.
- The authorisation gives the company the opportunity to repurchase and hold a maximum of ten (10) percent of the outstanding shares in the company.
- Payment for the shares shall be made in cash.
- Repurchases may take place with a total maximum amount of SEK five (5) million.
- Completed acquisitions of treasury shares will be announced and notified in accordance with applicable laws and regulations and Nasdaq Stockholm rules for issuers.
The Board does not intend to initiate additional share buybacks before the AGM 2024.
The authorisation resolved by the AGM on 16 May 2023 can be found in full on the SinterCast website: https://www.sintercast.com/investor/financial-reports/press-releases/