Kindred Group plc (OM:KIND SDB) commences share repurchases on March 1, 2021, under the program mandated by the shareholders in the Extraordinary General Meeting held on June 11, 2020. As per the mandate, the company will repurchase up to 22,689,967 ordinary shares/SDRs. The minimum price that may be paid for the shares/SDRs is SEK 1 per share/SDR exclusive of tax. The maximum price that may be paid for the shares/SDRs is SEK 200 per share/SDRs exclusive of tax. The repurchased shares will either be canceled, or used as consideration for an acquisition or will be issued to employees under a share option program or share performance scheme. The objective of the buyback is to achieve added value for the companys shareholders and to give the Board increased flexibility with the companys capital structure. The program shall expire at the conclusion of the next Annual General Meeting in 2021.
On February 26, 2021, the company announced a share repurchase program. Under the program, the company will repurchase up to 2,000,000 shares, such that the companys holding in treasury together with the shares repurchased does not exceed 10% of its issued share capital at any point of time for SEK 190 million. The shares will be repurchased within the recorded interval, i.e. the interval between the highest buying price and the lowest selling price. The repurchased shares will be cancelled. The purpose of the program is to return excess cash to the companys shareholders. The repurchases will commence from March 1, 2021 and expire on April 30, 2021. As of February 26, 2021, the company has 230,126,200 shares issued and outstanding and 2,971,358 shares in treasury.