VALLETTA, Malta, May 23, 2023 /PRNewswire/ — Kindred Group’s Board of Directors has decided to start exercising the buy-back mandate received at the Extraordinary General Meeting on 17 May 2023. Share repurchases may take place during the period between 23 May 2023 and 22 June 2023.
The Board of Directors of Kindred Group plc (“Kindred” or the “Company”) has, empowered by a mandate received at the Extraordinary General Meeting on 17 May 2023, decided to initiate a share buy-back programme. The purpose of the programme is to return excess cash to the shareholders in line with the Kindred’s distribution policy.
Share repurchases can be made during the period 23 May 2023 and 22 June 2023 and are to be made on Nasdaq Stockholm in accordance with the Nasdaq Nordic Main Market Rulebook for Issuers of Shares, Maltese Companies Act and EU Market Abuse Regulation No. 596/2014 (“MAR”). Share repurchases are to be made at a price per share within the recorded interval, i.e. the interval between the highest buying price and the lowest selling price. Payment for the shares shall be made in cash.
Notification of any share repurchases will continuously be made to Nasdaq Stockholm. For information about the transactions please see: http://www.nasdaqomx.com/transactions/markets/nordic/corporate-actions/stockholm/repurchases-of-own-shares
The maximum number of shares/SDRs that can be repurchased is 23,000,000 and the Company’s holdings of its own shares/SDRs may not at any time exceed 10 per cent of the total outstanding shares. At the time of this announcement, the total number of issued shares in the Company is 230,126,200 and Kindred’s holding of own shares/SDRs is 14,445,479.
Following repurchase, the intention of the Board is to cancel the repurchased shares/SDRs.
This disclosure contains information that Kindred Group is obliged to make public pursuant to the EU Market Abuse Regulation (EU No. 596/2014). The information was submitted for publication, through the agency of the…