Byggmax Group AB (OM:BMAX) commences an Equity Buyback Plan, for 3,049,952 shares, representing 5% of its issued share capital, under the authorization approved on May 6, 2021.
September 27, 2021 at 09:00 am EDT
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Byggmax Group AB (publ) (OM:BMAX) commences share repurchases on September 21, 2021, under the program mandated by the Annual General Meeting held on May 6, 2021. As per the mandate, the company is authorized to repurchase up to 5% of its issued share capital, such that the company’s holding in treasury together with the shares repurchased does not exceed 5% of its issued share capital at any point of time. The shares will be repurchased at a price per share within the price interval registered at any given time, i.e. the interval between the highest bid price and the lowest selling price. All treasury shares held by the company at any given time may be transferred. The program is valid until the next Annual General Meeting. As of March 30, 2021, the company had 60,999,045 shares issued and no shares in treasury.
On September 15, 2021, the company announced a share repurchase program. Under the program, the company will repurchase 3,049,900 shares for SEK 200 million. The shares will be repurchased at a per-share price within the registered interval for the going rate at any given time. The purpose of the program is to adapt the company’s capital structure and contribute to increased shareholder value. The repurchased shares will be withdrawn through a reduction in the share capital. The repurchases will be carried out from September 20, 2021, to the date of the Annual General Meeting in 2022.
Byggmax Group AB is a Sweden-based company active within the construction materials retail sector. The Company is engaged in the discount retail of construction materials in the Nordic do-it-yourself (DIY) market. Its offering includes basic construction materials, such as wood, stone and concrete, isolation materials, doors, windows, flooring, paints and coatings, tools, screws, bolts, basic electrical and ventilation materials, kitchen and toilet fittings, as well as wooden cottage sets. The Company operates Byggmax Norge and Byggmax AB Finland as subsidiaries responsible for retail sails in Norway and Finland, as well as Buildor AB and Skanska Byggvaror as wholly owned subsidiaries. Its largest shareholder is Altor 2003 Sarl, which holds 35.76% of the Companyâs shares. The Company operates 67 stores across Sweden.
Byggmax Group AB (OM: BMAX) commences an Equity Buyback Plan, for 3,049,952 shares, representing 5% of its issued share capital, under the authorization approved on May 6, 2021.
BYGGMAX GROUP AB 
