The Board of Directors of Kindred Group plc on Monday announced the decision to initiate a share buy-back programme. It has been empowered to do so thanks to a mandate received at the Extraordinary General Meeting on 10th June 2022, while the purpose of the programme is to return excess cash to shareholders in line with Kindred’s distribution policy.
Share repurchases can be made during the period 1st August 2022 until the next Annual General Meeting. However, no share repurchases will be executed during the closed periods ahead of the publication of quarterly reports.
Share repurchases are to be made on Nasdaq Stockholm in accordance with the Nasdaq Nordic Main Market Rulebook for Issuers of Shares, Maltese Companies Act and EU Market Abuse Regulation No. 596/2014. Share repurchases are to be made at a price per share within the recorded interval, i.e. the interval between the highest buying price and the lowest selling price. Payment for the shares shall be made in cash.
Notification of any share repurchases will continuously be made to Nasdaq Stockholm and for information about the transactions, click here.
The maximum number of shares/SDRs that can be repurchased is 23,000,000 and the company’s holdings of its own shares/SDRs may not at any time exceed 10 per cent of the total outstanding shares.
On Monday morning, the total number of issued shares in the company is 230,126,200 and Kindred’s holding of own shares/SDRs is 9,966,474.
Following repurchase, the intention of the Board is to cancel the repurchased shares/SDRs.
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