The Board of Directors of Cloetta AB (publ) ("Cloetta") has, based on an authorisation from the Annual General Meeting held on 6 April 2021, resolved on repurchase of own B-shares to enable the company to transfer shares under the long term share-based incentive program.
The purpose of the authorisation to repurchase own shares, and the Board of Directors' decision to utilise the authorisation from Annual General Meeting, is to enable hedging of costs and delivery of shares related to the implementation of Cloetta's long-term share-based incentive plan, LTI 2021. The repurchase of own shares will be conducted in accordance with the Nordic Main Market Rulebook for Issuers of Shares.
The repurchases will be conducted in accordance with the following conditions:
- Acquisitions may be conducted on one or more occasions for the period until the end of the next Annual General Meeting.
- A maximum of 1,590,629 B-shares may be acquired.
- Acquisitions of shares are to be conducted on Nasdaq Stockholm and at a price per share that is within the registered span of share prices at the particular time.
- Payment for the shares shall be made in cash.
Reporting of repurchases will be made to Nasdaq Stockholm in accordance with applicable rules.
As per the date of this press release, the total number of shares in Cloetta amounted to 288,619,299, of which 5,735,249 were A-shares and 282,884,050 B-shares. Cloetta does not hold any own shares as per at the date of this press release.
Nathalie Redmo, Head of IR and Communications, +46 766 96 59 40
Cloetta, founded in 1862, is a leading confectionary company in Northern Europe. Cloetta's products are sold in more than 50 countries worldwide with Sweden, Finland, Denmark, Norway, the Netherlands, Germany and the UK as the main markets. Cloetta owns some of the strongest brands on the market, such as Läkerol, Cloetta, CandyKing, Jenkki, Kexchoklad, Malaco, Sportlife and Red Band. Cloetta has 7 production units in 5 countries. Cloetta's class B-shares are traded on Nasdaq Stockholm. More information about Cloetta is available on www.cloetta.com
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