HMS Networks Board of Directors has resolved to repurchase shares
12 December 2017 - 11:00PM
Based on the authorization
granted by the Annual General Meeting on April 26, 2017, the Board
of Directors of HMS Networks AB (publ) ("HMS") has resolved to
repurchase shares in the company to a maximum value of 33 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
Annual General Meeting for the financial year 2017, 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 260,000 shares may be acquired to a
total value of maximum 33 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 46,818,868 and
at this time the total number of shares held by HMS amounts to
101,732 own shares.
For more information, please
contact:
Staffan Dahlström, CEO HMS, +46 709-17 29 01
Joakim Nideborn, CFO HMS, +46 707-72 29 83
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 1:00 PM CET on December 12, 2017.
HMS Networks AB (publ) is one
of the world's leading suppliers of communication technology for
industrial automation. Sales amounted to SEK 952 million in 2016
and more than 90 percent was derived outside Sweden. Product
development and some manufacturing takes place at the company's
head office in Halmstad (Sweden) as well as in Ravensburg
(Germany), Igualada (Spain) and Nivelles (Belgium). Sales offices
are located in Japan, China, Germany, USA, Italy, France, Belgium,
India, England, Spain and Denmark. HMS has approximately 500
employees and it manufactures and markets products under the brands
Anybus®, IXXAT®, Netbiter® and eWON®. HMS is listed on
NASDAQ-OMX Nordic Exchange in Stockholm under 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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