MIPS' : Board of Directors has decided to repurchase own shares
November 22, 2020 at 02:09 pm EST
Share
Pursuant to its mandate from the Annual General Meeting held on May 7, 2020, the Board of Directors of MIPS AB (publ) has decided to repurchase own shares.
The reason for the mandate to repurchase own shares, and the Board of Directors' decision to utilize this mandate, is to ensure the delivery of shares in connection with MIPS' outstanding long-term performance share plan, LTIP 2020. 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 until the next Annual General Meeting.
A maximum of 7,000 shares may be acquired.
Acquisitions of shares are to be conducted on Nasdaq Stockholm at a price per share within the registered share price range on each occasion, by which is meant the difference between the highest buying price and the lowest selling price.
Payment for the shares shall be made in cash.
Reporting will be made to Nasdaq Stockholm in accordance with applicable rules.
At the date of issue of this press release, the total number of MIPS shares was 26,183,620. MIPS does not hold any own shares at the time of this press release.
For more information, please contact:
Max Strandwitz, President and CEO
Max.Strandwitz@Mipsprotection.com
tel +46 709 61 17 54
Karin Rosenthal, CFO Karin.Rosenthal@Mipsprotection.com
tel +46 768 34 63 66
About MIPS
MIPS specializes in helmet-based safety and protection of the brain and is the world-leader in this area. Based on an ingredient brand business-model, MIPS Brain Protection System (BPS) is sold to the global helmet industry. The technology is based on over 20 years of research and development together with the Royal Institute of Technology and the Karolinska Institute, both located in Stockholm, Sweden. MIPS' headquarter with 42 employees engaged in research and development, sales, marketing and administration is in Stockholm, where its product and technology test facility also is located. The MIPS share is listed on Nasdaq Stockholm. For more information: www.mipscorp.com
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MIPS AB published this content on 22 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 November 2020 19:08:01 UTC
Mips AB is a Sweden-based company, which specializes in helmet safety and brain protection. The Company offers its MIPS Brain Protection System (BPS) that implies solutions protecting against rotational motion transferred to the brain from angled impacts to the head. BPS is designed to add protection in helmets due to the low friction layer, which enables a relative movement between the head and the helmet, mimicking the brainâs own protection system. The technology implements into bicycle, snow, motorcycle and equestrian helmets. More than 40 helmet brands use BPS, including Bell, Fox Head, Giro, Scott, Smith and Trek, among others. The Company determines only one segment as operations solely comprise sales of the component kit included in consumer products.
MIPS AB 
