VALLETTA, Malta, Aug. 1, 2022 /PRNewswire/ -- Kindred Group's Board of Directors has decided to start exercising the buy-back mandate which received at the Extraordinary General Meeting on 10 June 2022. Share repurchases may take place during the period between 1 August 2022 and up until the next Annual General Meeting.
The Board of Directors of Kindred Group plc ("Kindred" or the "Company") has, empowered by a mandate received at the Extraordinary General Meeting on 10 June 2022, decided to initiate a share buy-back programme. The purpose of the programme is to return excess cash to the shareholders in line with the Kindred's distribution policy.
Share repurchases can be made during the period 1 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 ("MAR"). 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 please see: http://www.nasdaqomx.com/transactions/markets/nordic/corporate-actions/stockholm/repurchases-of-own-shares
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. At the time of this announcement, 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.
This disclosure contains information that Kindred Group is obliged to make public pursuant to the EU Market Abuse Regulation (EU No. 596/2014). The information was submitted for publication, through the agency of the contact person, on 01-08-202207:30 CET.
Patrick Kortman, Director - Corporate Development & Investor Relations, +46 723 877 438Linda Lyth, Investor Relations Manager, +46 767 681 email@example.com
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