Kindred Group utilises authorisation to repurchase own shares

VALLETTA, Malta, Feb. 26, 2021 /PRNewswire/ -- Kindred Group's Board of Directors has decided to start exercising the buy-back mandate which was received at the EGM in June 2020. The buy-back programme will run between 1 March and 30 April 2021 and amounts to a total of up to SEK 190 million.

The Board of Directors of Kindred Group plc ("Kindred" or the "Company") has, empowered by a mandate received at the Extraordinary General meeting on 11 June 2020, decided to initiate a share buy-back programme. The purpose of the programme is to return excess cash to the Company's shareholders. The programme permits share repurchases being executed during the upcoming closed period ahead of the first quarter interim report publication.

The acquisition of shares shall take place on Nasdaq Stockholm or other regulated markets and shall be managed by an investment firm or a credit institution which makes its trading decisions in relation to Kindred's shares independently of, and without influence by, Kindred in accordance with the Maltese Companies Act, EU Market Abuse Regulation No 596/2014 ("MAR"), the EU Commission's delegated Regulation No 2016/1052 (the "Safe Harbour Regulation") and the applicable rules of Nasdaq's Nordic Main Market Rulebook for Issuers of Shares.

The buy-back programme decided by the Board of Directors shall meet the following terms:

Following repurchase, the intention of the Board  is to cancel the repurchased shares. The cancellation of shares requires approval by the annual general meeting and the Board of Directors intends to seek such approval at the annual general meeting in May 2021.

At the time of this announcement, the total number of outstanding shares in the company is  230,126,200 and Kindred's holding of own shares is 2,971,358.

This disclosure contains information that Kindred Group is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 26-02-202117:30 CET.

CONTACT:

For more information:

Patrick Kortman, Head of Corporate Development & Investor Relations, +46 723 877 438

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SOURCE Kindred Group