INSTALCO AB 11/19/2020 8:00:00 AM
The Board of Directors of Instalco AB (publ) has decided to initiate repurchases of own shares, exercising the authorisation granted by the Annual General Meeting on 7 May 2020. The purpose of the repurchases is primarily to use the shares as payment in connection with future acquisitions.
According to the authorisation, the Board has the possibility to repurchase shares at one or more occasions until the end of the next Annual General Meeting. The repurchases of shares may only amount to such a number of shares that the company's total holding of own shares never, at any time, exceeds 5 percent of the total number of shares in the company. However, the Board's initial intention is to repurchase shares corresponding to an amount of a maximum of SEK 30 million. The repurchases may be initiated on 19 November 2020. The shares shall be purchased on Nasdaq Stockholm at a price per share within the registered price range, which is the range between the highest purchase price and the lowest selling price. The payment for the shares shall be made in cash. At the time of this press release, Instalco holds no own shares. For further information: Fredrik Trahn, Head of Communications and IR 070-913 67 96, fredrik.trahn@instalco.se The information was made public by the contact person listed above, on 19 November 2020 at 08:00 CET. Instalco is one of the leading installation companies in the Nordic region, active in the areas of heating, plumbing, electricity, cooling and industrial solutions. We offer installation, service and maintenance of systems installed at properties and facilities throughout Sweden, Norway and Finland. The operations are conducted through approximately 80 leading and highly specialised local companies, with the support of a small central organisation. Instalco is listed at Nasdaq Stockholm under the ticker INSTAL. For further information, visit www.instalco.se
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Instalco Intressenter AB published this content on 19 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 November 2020 07:26:02 UTC
