With the support of authorization from the 2020 Annual General Meeting, the Board of Directors of Pricer AB has decided to introduce a repurchase program for own shares. The repurchases take place for the purpose determined by the Annual General Meeting to hedge the company's obligations (including costs for social security contributions) due to decided incentive programs and to continuously adjust the number of shares held to hedge obligations within the company's incentive program.
The repurchase program will be implemented in accordance with Market Abuse Regulation (EU) No 596/2014 and Commission Delegated Regulation (EU) No 2016/1052 (Safe Harbor Regulation). The repurchase program will be implemented by an investment bank or credit institution that decides on purchases independently of and without the influence of Pricer regarding the time of repurchases.
The repurchase program is subject to the following conditions:
- The repurchase program shall comprise a maximum of 400,000 Class B shares and to a cost that does not exceed SEK 20 million for the company.
- The repurchases will take place during the period up to next year's Annual General Meeting.
- All repurchases must be made on Nasdaq Stockholm in accordance with Nasdaq's regulations - Nordic Main Market Rulebook for Issuers of Shares.
- At any given time, the shares are repurchased at a market price in the interval between the highest (purchase) and the lowest (selling) bid price and otherwise in accordance with the Safe Harbor Ordinance.
- A maximum of 25 percent of the average daily volume of the shares on the Nasdaq Stockholm Stock Exchange may be repurchased each trading day, whereby the average daily volume shall be calculated for the period referred to in Article 3.3 b) of the Safe Harbor Regulation.
- In accordance with the mandate given at the Annual General Meeting on May 6, 2020, Pricer's holding of own shares shall not exceed 10 percent at any time of the outstanding shares.
- Payment for the shares must be made in cash.
Information on the implementation of share repurchases can be found at www.nasdaqomxnordic.com. The total number of shares in the company is 110,971,781 divided into 225,523 Class A shares and 110,746,258 Class B shares, of which Pricer owns 477,136 own Class B shares at the time of this press release.
For further information, please contact:
Helena Holmgren, President and CEO, +46 (0)702 870 068
Susanne Andersson, CFO, +46 (0)730 668 904
Every care has been taken in the translation of this document. In the event of discrepancies, the Swedish original will supersede the English translation.
Pricer AB is a global leader in providing in-store digital shelf-edge solutions that enhance both store performance and the shopping experience. The increasingly feature-rich Pricer platform is fast, robust, interconnectable and scalable. Pricer was founded in Sweden in 1991 and is listed on NASDAQ Stockholm. For further information, please visit www.pricer.com