STOCKHOLM, Jan 31, 2017 /PRNewswire/ --
The Board of Com Hem Holding AB ("Com Hem" or the "Company") has today resolved to initiate a share buyback program for a total amount of up to SEK 140 million up until March 22, 2017.
Repurchased shares will reduce Com Hem's share capital by shares being cancelled, after sufficient number of shares have been saved to be used under Com Hem's LTIP programs. The program is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and the Commission Delegated Regulation (EU) No 2016/1052 (the "Safe Harbour Regulation"). The buy-back program will be managed by a securities company or credit institution that makes its trading decisions regarding Com Hem's shares independently of, and without influence by, Com Hem with regard to the timing of the repurchases.
The buy-back program resolved upon by the Board shall meet the following terms:
- Repurchases of shares are to be made on Nasdaq Stockholm and in accordance with Nasdaq Stockholm's Rule Book for Issuers and in accordance with MAR and the Safe Harbour Regulation.
- Share repurchases can be made from February 1, 2017 to March 22, 2017.
- Repurchases of shares on the Nasdaq Stockholm are to be made at a per-share price within the registered interval for the going rate at any given time, which denotes the interval between the highest and lowest selling price.
- Shares for a total maximum amount of SEK 140 million may be repurchased, of which shares for a maximum amount of SEK 70 million may be purchased for the period between February 1, 2017 to February 28, 2017 (both days included) and for a maximum amount of SEK 70 million for the period between March 1, 2017 to March 22, 2017 (both days included).
- A maximum of 18,895,064 shares may be repurchased. The Company's holding of its own shares may not at any time exceed 10 per cent of the outstanding shares in the Company.
- Payment for the shares is to be made in cash.
The total number of outstanding registered shares in Com Hem amounts to 188,950,640. Com Hem currently owns 4,279,455 own shares.
For queries, please contact:
Marcus Lindberg, Investor Relations Manager
Tel: +46(0)734 39 25 40
Fredrik Hallstan, Head of PR
Tel: +46(0)761 15 38 30
This information is information that Com Hem Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 09:00 CET on January 31, 2017.
About Com Hem Group
Com Hem Group offers broadband, TV, play and telephony services to Swedish households and companies. Our powerful and future-proofed network with speeds up to 1 Gbit/s, covers half of the country's households, making the Com Hem Group an important driver of creating a digital Sweden. We bring our 1.5 million customers the largest range of digital tv channels and play services via set-up boxes as well as on-the-go for tablets and smartphones. The company was founded in 1983 and has approximately 1,100 employees. Com Hem Group is headquartered in Stockholm and operates through four subsidiaries; Com Hem AB, Boxer TV Access AB, Phonera Företag AB and iTUX Communication AB. In 2016, Group sales totalled in 5,665 SEK million. Since 2014 the Com Hem share is listed on Nasdaq Stockholm. www.comhemgroup.com.
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SOURCE Com Hem