NCC commences program to repurchase own shares
As previously announced, NCC’s Board of Directors has approved a repurchase program of own Series B shares. The program is now being initiated with the aim of adapting NCC’s capital structure to the company’s capital requirements.
NCC has commissioned SEB to manage the program. The program will be initiated May 11 and extend until the 2023 Annual General Meeting at the latest.
The repurchase program will be 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”). Reporting of repurchased shares will be carried out in accordance with applicable rules.
The repurchase program is subject to the following terms:
- The share repurchases shall be made on Nasdaq Stockholm in accordance with its Rulebook for Issuers of Shares (below the “Rulebook”) as well as in accordance with MAR and the Safe Harbour Regulation
- The share repurchases shall commence no earlier than May 11, 2022, and shall end no later than the 2023 Annual General Meeting
- The share repurchases are to be carried out on one or more occasions, at a price per share within the registered span of share prices on the stock exchange at the particular time, (i.e. the interval between the highest buying price and the lowest selling price) on Nasdaq Stockholm, and in addition, in accordance with the price restrictions in the Safe Harbour Regulation
- The share repurchases may only be made in accordance with the restrictions regarding volume for acquisitions of own shares stated in the Rulebook and in the Safe Harbour Regulation
- The maximum repurchase amount during the period is SEK 1.5 bn and NCC may hold a maximum of 10 percent of the shares outstanding in treasury
- The shares are to be paid for in cash
At the date of issue of this press release, the total number of NCC shares was 108,435,822, of which 12,914,123 were Series A shares and 95,521,699 were Series B shares. NCC holds 765 842 Series B shares in treasury.
For further information, please contact:
Maria Grimberg, Head of Communication & Investor Relations, NCC, +46 70 896 12 88
NCC’s media line: +46 8 585 519 00, email@example.com
About NCC. NCC is one of the leading construction companies in the Nordics. Based on its expertise in managing complex construction processes, NCC contributes to the positive impact of construction for its customers and society. Operations include commercial property development, building and infrastructure project contracting, and asphalt and stone materials production. In 2021, NCC had sales of about SEK 53 bn and 13,000 employees. NCC’s shares are listed on Nasdaq Stockholm.