Investment AB Latour (OM:LATO B) commences an Equity Buyback Plan for 63,932,510 shares, representing 10% of its issued share capital, under the authorization approved on May 10, 2023.
September 15, 2023 at 08:00 am EDT
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Investment AB Latour (publ) (OM:LATO B) commences share repurchases on September 5, 2023, under the program mandated by the shareholders in the Annual General Meeting held on May 10, 2023. As per the mandate, the company is authorized to repurchase up to 63,932,510 shares, representing 10% of its issued share capital. If the repurchases are done through trading on the Nasdaq Stockholm the price will correspond to the market price at the time of the acquisition with a deviation that does not exceed the registered price interval on each occasion. The purpose of the program is to adjust the company?s capital structure, achieve added value for the shareholders as well as to finance acquisitions with shares and be able to meet the obligations of call option programs. The authority shall expire at the earliest of the next Annual General Meeting in 2024. As of April 3, 2023, the company has 639,840,000 shares of which 47,600,448 are class A shares and 592,239,552 class B shares and 514,900 class B shares are in treasury.
On September 4, 2023, the company announced a share repurchase program. Under the program, the company will repurchase up to 125,000 Class B shares, representing 0.02% of its issued share capital. The shares will be repurchased at a price per share within the price interval registered at any given time, by which is meant the interval between the highest purchase price and the lowest selling price. The purpose of the acquisition is to ensure Latour's commitments to deliver shares in accordance with Latour's call option program. The repurchases will commence from September 5, 2023, and the program is valid till September 29, 2023. As of September 4, 2023, the company had 639,840,000 shares in issue including 427,200 shares in treasury.
Investment AB Latour is a Sweden-based company. The object of the Company's business is to acquire and manage shares and other movable property. Its operations are divided into two business lines. One is made up of the wholly owned industrial and trading operations and the other is a portfolio with listed holdings. Its industrial and trading operations are organized into four business areas: Hultafors Group, Latour Industries, Specma Group and Swegon. The Company's investment portfolio comprises Assa Abloy, Fagerhult, HMS Networks, Loomis, Nederman, Nobia, Securitas, Sweco and Tomra. The Companyâs operations are run by its two wholly owned subsidiaries, Nordiska Industri AB and Latour-Gruppen AB, trading with shares and securities is handled by the Karpalunds Angbryggeri AB, while administration of securities is managed by the wholly owned subsidiary, Saki Forvaltning AB.
Investment AB Latour (OM: LATO B) commences an Equity Buyback Plan for 63,932,510 shares, representing 10% of its issued share capital, under the authorization approved on May 10, 2023.
INVESTMENT AB LATOUR 
