Hexatronic Group authorizes share repurchase program
May 17, 2023
Hexatronic Group authorizes sharerepurchase program
The Board of Directors of Hexatronic Group AB (publ) ("Hexatronic"), with the authorization from the Annual General Meeting on May 9, 2023, has decided to repurchase a maximum of 1,200,000 of the company’s common stock on Nasdaq Stockholm during the period up until the Annual General Meeting in 2024.
The purpose of the repurchase program is primarily to reduce dilution caused by the company's outstanding share-based incentive programs. The purpose is also to use the repurchased shares as a means of payment in potential future corporate acquisitions.
The repurchase of the company’s common stock will be carried out on Nasdaq Stockholm in accordance with the Nordic Main Market Rulebook for Issuers of Shares.
The repurchases will be made under the following conditions:
- Repurchases may occur on one or more occasions until the Annual General Meeting in 2024.
- Repurchases may be made of up to 1,200,000 shares.
- Repurchases of shares will be made on Nasdaq Stockholm at a price per share within the registered price range at any given time, which refers to the interval between the highest buying price and the lowest selling price.
- Payment for the shares shall be made in cash.
Reporting of the repurchases will be made to Nasdaq Stockholm in accordance with applicable regulations.
At the time of this press release, the total number of shares in Hexatronic amounts to 205,062,579 shares, of which 203,026,610 are shares of series A and 2,035,969 are shares of series C. At the time of this press release, Hexatronic holds 606,300 of its own shares of series A and 2,035,969 of its own shares of series C.
Gothenburg, May 17, 2023
Henrik Larsson Lyon
CEO Hexatronic Group
For more information, please contact:
Henrik Larsson Lyon, CEO Hexatronic Group, +46 706 50 34 00
Pernilla Lindén, CFO Hexatronic Group, +46 708 77 58 32
The information was submitted for publication, through the agency of the contact person set out above, at 7amCEST on May 17, 2023. This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.
Hexatronic creates sustainable networks all over the world. We partner with customers on four continents – from telecom operators to network owners – and offer leading, high-quality fiber technology for every conceivable application. Hexatronic Group (publ.) was founded in Sweden in 1993 and the Group is listed on Nasdaq OMX Stockholm. Our global brands include Viper, Stingray, Raptor, InOne, and Wistom®.
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