AcadeMedia AB: The Board of AcadeMedia proposes a voluntary share redemption program
The Board of AcadeMedia has resolved to propose that the Annual General Meeting on 28 November 2024 resolves on a voluntary redemption program, in accordance with the intention to propose a voluntary redemption program announced in the year-end report for the period July 2023 - June 2024, which was published on 28 August 2024.
AcadeMedia has over time achieved a solid financial position as a result of the development efforts and investments made during several years. The board of directors considers that the company's capital structure is not optimal and therefore proposes a redemption program with a maximum amount of SEK 300 million. The board of directors also considers that a voluntary redemption program is a good option for the shareholders, as each shareholder has the opportunity to choose whether they wish to have shares redeemed or retain their shareholding. The Board considers that AcadeMedia's current capital structure justifies the Board's proposal on a voluntary redemption of shares in addition to the Board's previously communicated proposal on an ordinary dividend of SEK 1.75 per share.
The Board's proposal will comprise a voluntary redemption program of not more than a total of SEK 300 million, as an offer to all shareholders for voluntary redemption of shares. The Board's proposal will include an authorization for the Board to, among other things, determine the redemption amount per share and the total amount to be repaid to shareholders. The intention is to determine the redemption amount to a maximum of approximately 30 percent above the volume-weighted average share price for the company's ordinary share on Nasdaq Stockholm during the five trading days preceding the Board's resolution regarding the terms of the voluntary redemption program. The Board is expected to issue the notice to the Annual General Meeting in the coming days and the Annual General Meeting will be held on 28 November 2024. The redemption procedure is intended to be carried out in February/March 2025, after the announcement of AcadeMedia's second quarterly report for the financial year 2024/2025.
An information brochure describing the voluntary redemption program in more detail will be presented and be available before the application period commences..
For more information, please contact:
Hanna Clausén, IR
Telephone: +46 8 794 42 62
E-mail: hanna.clausen@academedia.se
Jennie Thingwall, Legal Counsel
Telephone: +46 76 14 111 59
E-mail: jennie.thingwall@academedia.se
About AcadeMedia
AcadeMedia creates opportunities for people to develop. The 21,000 employees at our 860 preschools, compulsory schools, upper secondary schools, and adult education centres share a common focus on quality and development. Our 209,000 children and students are provided with a high-quality education, giving them the best conditions to attain both learning objectives and their full potential as individuals. AcadeMedia is Northern Europe ́s largest education company, with locations/facilities/presence in Sweden, Norway, Germany, Finland, Netherlands, Poland and UK. Our size gives us the capacity to be a robust, long-term partner to the communities we serve. More information about AcadeMedia is available on www.academedia.se.
This information is information that AcadeMedia AB 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 16:50 CEST October 23, 2024