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SinterCast Initiates Share Buyback Programme
Kurs & Likviditet
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Small Cap Stockholm |
| Sektor | Industri |
| Industri | Industriprodukter |
Press Release
For Immediate Distribution
[Stockholm, 21 November 2023] – Following the authorisation granted by the shareholders at the Annual General Meeting (AGM) on 16 May 2023, the Board of Directors of SinterCast AB has decided to initiate a share buyback programme. The Board has allocated an initial amount of up to SEK five (5) million for the programme. The purpose of the share buyback programme is to optimise the company’s capital structure and thereby to create value for the shareholders. SinterCast intends to cancel the repurchased shares by resolution at a future AGM. Repurchases shall be made in advance of the SinterCast AGM 2024, to be held on 21 May 2024, in accordance with the following conditions:
- Share repurchases shall take place on Nasdaq Stockholm in accordance with the rules concerning the purchase of own shares set out in Nasdaq Stockholm rules for issuers.
- Repurchases of shares on Nasdaq Stockholm shall take place at a price per share within the quoted price range registered at any given time, by which is meant the interval between the highest purchase price and the lowest selling price.
- The authorisation gives the company the opportunity to repurchase and hold a maximum of ten (10) percent of the outstanding shares in the company.
- Payment for the shares shall be made in cash.
- Repurchases may take place with a total maximum amount of SEK five (5) million.
- Completed acquisitions of treasury shares will be announced and notified in accordance with applicable laws and regulations and Nasdaq Stockholm rules for issuers.
At the time of this press release, SinterCast does not hold any of its own shares. The authorisation resolved by the AGM on 16 May 2023 can be found in full on the SinterCast website: https://www.sintercast.com/investor/financial-reports/press-releases/
For more information:
Dr Steve Dawson
President & CEO
SinterCast AB (publ)
Mobile: +44 771 002 6342
e-mail: steve.dawson@sintercast.com
SinterCast® is the world’s leading supplier of process control technology for the reliable high volume production of Compacted Graphite Iron (CGI). The properties of CGI enable improved transport solutions, increasing efficiency and reducing carbon emissions in passenger vehicle, commercial vehicle and industrial power applications. As a specialist supplier of precision measurement and process control solutions to the metals industry, SinterCast also supplies the SinterCast Ladle Tracker® and SinterCast Cast Tracker® technologies, to improve production efficiency and Industry 4.0 traceability in a variety of applications. With 56 installations in 13 countries, SinterCast is a publicly traded company, quoted on the Small Cap segment of the Nasdaq Stockholm stock exchange (SINT). For more information: www.sintercast.com
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