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Essity decides to buy back shares for SEK 3bn

STOCKHOLM, June 17, 2024 /PRNewswire/ -- Essity's Board of Directors has resolved to utilize the authorization granted by the Annual General Meeting on March 21, 2024, and initiate a program to buy back Class B shares in Essity for SEK 3bn.  

Essity's Board of Directors has today resolved to utilize the authorization granted by the Annual General Meeting on March 21, 2024, and initiate a program to buy back Class B shares in Essity for SEK 3bn, but not exceeding 10% of the total number of shares outstanding. The buyback program begins on June 17, 2024, and extends until the 2025 Annual General Meeting. The repurchased shares are expected to be canceled. The share repurchase will be financed using cash flow from current operations after the ordinary dividend with the ambition to continue with share buy backs over time as a recurring part of Essity's capital allocation. 

The share buyback program will be managed by Danske Bank, which will decide on the date for repurchasing independently from and outside of Essity's influence. Repurchasing will take place on Nasdaq Stockholm in accordance with the stock exchange's issuer regulations and be implemented in accordance with the EU Market Abuse Regulation (MAR) and the European Commission's Delegated Regulation 2016/1052 (Safe Harbour Regulation).  

Otherwise, the following terms and conditions apply to the share buyback program: 

  • The shares are to be acquired at a price per share within the band of prices prevailing at any given time on Nasdaq Stockholm, which refers to the range between the highest purchase price and lowest selling price prevailing and disseminated by Nasdaq Stockholm. 
  • The shares will be paid for in cash. 

The total number of Essity shares is 702,342,489, of which 60,969,986 Class A shares and 641,372,503 Class B shares. Essity currently holds no shares in treasury. 

Information about repurchases under the program will be published each week on Essity's website www.essity.com

NB: This is information that Essity Aktiebolag (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 person set out below, at 07:35 CET on June 17, 2024. 

Per Lorentz, Vice President Corporate Communications, +46 73 313 30 55

For further information, please contact:

Per Lorentz, Vice President Corporate Communications, +46 73 313 30 55, per.lorentz@essity.com

Sandra Åberg, Vice President Investor Relations, +46 70 564 96 89, sandra.aberg@essity.com

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Essity decides to buy back shares for SEK 3bn

Cision View original content:https://www.prnewswire.co.uk/news-releases/essity-decides-to-buy-back-shares-for-sek-3bn-302173931.html

By: PR Newswire Association LLC. - 17 Jun 2024
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