ITAB initiates share buyback program
The Board of Directors of ITAB Shop Concept AB (publ) (”ITAB” or ”the Company”) has decided to utilise the authorisation granted by the Annual General Meeting in May 2023 to repurchase the Company’s own ordinary shares in order to optimise the capital structure.
Acquisitions of ITAB’s ordinary shares will be carried out in accordance with the EU Market Abuse Regulation (“MAR”) and the EU Commission’s Delegated Regulation 2016/1052 (the so called “Safe Harbour Regulation”). Acquisitions of shares will be managed by an investment firm or credit institution that makes its trading decisions regarding the timing of the acquisitions of ITAB’s shares independently of ITAB. The total number of shares that may be acquired is limited so that ITAB’s holding of own shares at no time exceeds 10 percent of the total number of shares outstanding in the Company.
The buyback program is subject to the following terms:
• The maximum purchase amount for repurchased shares is MSEK 50.
• Acquisitions are to be made on Nasdaq Stockholm in accordance with its Rule Book for Issuers, MAR and the Safe Harbour Regulation.
• The shares shall be purchased at a price per share within the price range (”spread”) on Nasdaq Stockholm applicable from time to time, meaning the spread between the highest purchase price and the lowest selling price prevailing and disseminated by Nasdaq Stockholm from time to time.
• Acquisitions of shares can be made until the date of the Annual General Meeting in 2024.
• Payment for the shares is to be made in cash.
The purpose of the purchases is to adjust ITAB’s capital structure by reducing its share capital. Accordingly, the Board of Directors intends to propose that the repurchased shares are to be cancelled.
ITAB’s current holding of own shares is 0 ordinary shares and 4,400,000 Class C shares. The total number of shares outstanding in the Company is 222,500,192 shares, of which 218,100,192 ordinary shares and 4,400,000 Class C shares.
Jönköping, 28 September 2023
ITAB Shop Concept AB (publ)
This information was submitted for publication at 2:45 p.m. CEST on 28 September 2023.
This is in all respects a translation of the Swedish original press release. In the event of any discrepancies between this translation and the Swedish original, the latter shall prevail.
Telephone: +46-73 232 16 35
Mats Karlqvist, Head of Investor Relations
Telephone: +46-70 660 31 32
ITAB Shop Concept AB (publ), Box 9054, SE-550 09 Jönköping, Sweden
AT ITAB we help customers turn consumer brand experience into physical reality with our know-how, solutions, and ecosystem of partners. We co-create with our customers, efficient retail solutions that deliver convenient and inspiring consumer experiences. The offer includes consultative design services, custom-made interiors, checkout systems, consumer guidance solutions, professional lighting systems and interactive digital solutions for the physical store. ITAB has annual sales of approximately SEK 6.5 billion and approximately 2,700 employees. ITAB’s share is listed on Nasdaq Stockholm.