HMS Networks Board of Directors has resolved to repurchase shares.
08 March 2017 - 11:30PM
Based on the authorization
granted by the Annual General Meeting on April 28, 2016, the Board
of Directors of HMS Networks AB (publ) ("HMS") has resolved to
repurchase shares in the company to a maximum value of 10.4 MSEK.
The purpose of the repurchase is to secure the Company's obligation
in relation to HMS long term Share Saving Program.
The repurchase will be carried
out in accordance with the Regulation (EU) No 596/2014 of the
European Parliament and the Commission Delegated Regulation (EU)
2016/1052 and will be managed by SEB deciding on trading decisions,
independent of HMS, regarding the timing of the repurchase
The repurchases are subject to the following
terms. Acquisitions of shares shall be conducted on NASDAQ,
Stockholm in accordance with its Rule Book for Issuers and in
accordance with the EU regulations. The acquisitions will be
performed on one or more occasions during the period until the 2017
Annual General Meeting, to a price within the registered range for
the share price prevailing at the time, and in accordance with the
Regulation (EU) 2016/1052 as regards to price. A maximum of 26 000
shares may be acquired to a total value of maximum 10.4 MSEK.
Payment for the shares shall be made in cash.
Reporting will be made to NASDAQ, Stockholm in accordance with
applicable rules. The transactions will also be made public and
published on HMS website www.hms-networks.com.
Repurchase of shares may not result in a HMS
holding of own shares, at any time, exceeding 10 % of the total
number of shares in the Company. At the time of this press release,
the total number of shares in the Company amounts to 11 704 717 and
at this time the total number of shares held by HMS amounts to 2
883 own shares.
For more information, please
contact:
Staffan Dahlström, CEO HMS, +46 709-17 29 01
Gunnar Högberg, CFO HMS, +46 709-17 29 95
This information is such that HMS Networks AB
(publ) is required to disclose in accordance with the EU Market
Abuse Regulation, the Swedish Financial Instruments Trading Act and
the Swedish Securities Market Act. The information was submitted
for publication at 01.30 pm CET on March 8, 2017.
HMS Networks AB (publ) is a
market-leading supplier of products for industrial communication
including remote management. HMS develops and manufactures
solutions for connecting automation devices and systems to
industrial networks under the Anybus, IXXAT, eWON and Intesis
brands. Development and manufacturing take place at the
headquarters in Halmstad, Sweden, Nivelles, Belgium, Igualada,
Spain and in Ravensburg, Germany. Local sales and support are
handled by sales offices in China, France, Germany, Switzerland,
India, Italy, Japan, UK, Spain and USA. HMS employs approximately
500 people and reported sales of SEK 952 m in 2016. HMS is listed
on the NASDAQ OMX Nordic Exchange in Stockholm in the category Mid
Cap, Information Technology.
Press release (PDF)
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: HMS Networks AB via Globenewswire
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