Bli medlem
Bli medlem

Du är här

2022-01-19

The Board of Bilia has taken decision to replace ongoing share repurchase program with a new share repurchase program in accordance with the Safe Harbour Regulation


The Board of Directors of Bilia AB (publ) (“Bilia”) has based on its authorization from the Annual General Meeting (“AGM”) on April 27, 2021 taken decision to;

  • recall the current share repurchase program of a maximum of 4,000,000 own shares in which, as of today, 918,635 own shares have been repurchased, and
  • start a new repurchase program of a maximum of 3,000,000 own shares at a total amount not exceeding SEK 500 M.

Acquisition of own shares should take place on Nasdaq Stockholm in accordance with the Nasdaq Stockholm Rule Book for Issuers. The repurchase program will be carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”).

The reason for the decision of the Board is that the new program is established in accordance with the Safe Harbour Regulation which enables repurchase of own shares also during the silent periods and when the company has an open logbook.

The reason for the repurchase program is to optimize the capital structure of the company.

Repurchases may take place until the company’s next AGM on April 7, 2022, on one or several occasions, and may not result in the company at any time holding own shares in excess of 10 per cent of the total number of shares in the company. After completion of repurchase program of 3,000,000 shares, the authorization from the AGM will be exercised. The Board of Directors intends to propose to the AGM on April 7, 2022 to decide to reduce the company’s share capital by withdrawing repurchased shares.

The repurchase program will be managed by Nordea that, based on the trading order given by Bilia, makes its trading decisions independently of Bilia. Payment for the shares shall be made in cash.

The shares will be bought at a price per share within the price range on Nasdaq Stockholm at any given time, by which is meant the range between the highest buying price and the lowest selling price published continuously by Nasdaq Stockholm and in addition in accordance with the restrictions relating to price in the Safe Harbour Regulation.

Acquisitions may only be effected in accordance with the restrictions regarding volume for acquisitions of own shares stated in the Rule Book and in the Safe Harbour Regulation.

At the time of this press release the total number of shares in the company is 102,799,952 and Bilia holds 7,169,086 own shares.

Gothenburg, January 19, 2022

Bilia AB (publ)

For information please contact:
Per Avander, Managing Director and CEO, +46 (0)10 497 70 00, per.avander@bilia.se 
Kristina Franzén, CFO, +46 (0)10 497 73 40, kristina.franzen@bilia.se

This is information that Bilia AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on January 19, 2021, at 14:30 CET.

Facts about the Bilia Group

Bilia is one of Europe’s largest car dealers with a leading position within service and sales of cars, transport vehicles and trucks. Bilia has about 160 facilities in Sweden, Norway, Germany, Luxembourg and Belgium. Bilia sells cars of the brand Volvo, BMW, Toyota, Mercedes, Renault, Lexus, MINI, Porsche, Nissan, Dacia, Smart and Alpine and transport vehicles of the brand Renault, Toyota, Mercedes, Nissan and Dacia and trucks of the brand Mercedes.

Bilia has today a fully expanded business with sales of new cars, e-commerce, spare parts and store sales, service and repair workshops, tyres and car glass and financing, insurance, car washes, fuel stations and auto salvage under the same roof, which gives a unique offer.

Bilia reported a turnover of about SEK 30 bn in 2020 and had about 4,700 employees.

Attachment


Författare GlobeNewswire