Synsam Group: Resolution to exercise the authorization to repurchase own shares
Today, the board of directors of Synsam AB (publ) ("Synsam" or the "Company") has, pursuant to the authorization provided by the annual general meeting held on 26 April 2024, resolved to acquire own shares in order to adjust the Company's capital structure.
According to the board of directors' resolution, acquisition of own shares under the share buy-back program shall be carried out in accordance with the EU Market Abuse Regulation (EU) No 596/2014 ("MAR") and the Commission Delegated Regulation (EU) 2016/1052 (the "Safe Harbour Regulation"). Acquisitions of shares will be carried out by an investment firm or credit institution that make its trading decisions regarding the timing of the acquisitions of Synsam's shares independently of Synsam.
The share buy-back program is subject to the following conditions:
- Acquisitions of own shares shall be made on Nasdaq Stockholm in accordance with Nasdaq's rulebook for issuers (Nasdaq Nordic Main Market Rulebook for Issuers of Shares), MAR and the Safe Harbour Regulation.
- Acquisitions of own shares can be made from 22 November 2024 until the date of the 2025 annual general meeting.
- The Company may not repurchase more than such number of shares which entails that the total number of own shares held by the Company at any given time exceeds 10 per cent of the total number of shares in the Company. The maximum purchase amount is MSEK 160.
- Repurchases of the Company's own shares on Nasdaq Stockholm may only be made at a price within the range between the highest bid price and lowest ask price at any given time.
- Payment for the acquired shares shall be made in cash.
The purpose of the repurchases of shares under the share buy-back program is to adjust Synsam's capital structure by reducing its share capital. Accordingly, the board of directors intends to propose to the 2025 annual general meeting that the repurchased shares are redeemed.
The total number of outstanding shares in Synsam currently amounts to 150,000,000, and the Company currently holds 2,176,252 own shares.
For further information, please contact:
Per Hedblom, CFO Synsam Group
E-mail: per.hedblom@synsam.com
Telephone: +46 (0)8-619 28 60
Website: www.synsamgroup.com
This information is such that Synsam AB (publ) is obligated to disclose in accordance with the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 a.m. CET on 19 November 2024.
Synsam Group is a leading optician group in the Nordic region, with a differentiated and affordable subscription offering. Synsam Group offers a wide range of products and services for eye health and eye fashion, catering to the customer's different lifestyles and needs. The group has approximately 4,000 employees, net sales of approximately SEK 6.2 billion (rolling twelve months until June 2024) and has approximately 500 stores in the Nordics, operating under the brands Synsam, Synsam Outlet and Profil Optik in Denmark. Through digitalization, subscription services and other innovative concepts, Synsam Group is at the forefront of innovation in the Nordic optical retail market across multiple dimensions including customer journey, product offering and ESG. Synsam Group's share is traded on Nasdaq Stockholm (SYNSAM). www.synsamgroup.com