Concentric's board of directors has resolved to acquire own shares

REDDITCH, England, July 26, 2023 /PRNewswire/ -- Under the authorisation from the annual general meeting on April 18, 2023, the board of Concentric AB ("Concentric") has resolved to acquire own shares on Nasdaq Stockholm.

The shares will be acquired on Nasdaq Stockholm, on one or several occasions during the period up to March 31, 2024. Acquisitions of own shares will be managed by an investment bank or approved financial brokerage firm that makes its trading decisions regarding the shares independently and without influence from Concentric, and otherwise in accordance with the Nasdaq Issuer Rules - Nordic Main Market Rulebook for Issuers of Shares (Supplement D), Regulation (EU) No 596/2014 of the European Parliament and of the Council on market abuse ("MAR") and Commission Delegated Regulation (EU) No 2016/1052 (the "Safe Harbour Regulation").

Acquisitions of own shares on Nasdaq Stockholm shall be made in cash and at a price within the stock market price interval registered at any given time, such interval being the interval between the highest purchase price and the lowest sales price. However, the price per share shall not exceed the highest of the purchase price of the last independent trade and the highest current independent purchase bid on the trading venue in accordance with the Safe Harbour Regulation.

The purpose of the acquisitions is to improve Concentric's capital structure.

Own shares may be acquired to the extent Concentric's holdings of own shares in total amounts to no more than one tenth of all shares in Concentric. As per the time of this press release, the number of shares in Concentric totals 38,297,600, of which Concentric holds 106,153 shares. Accordingly, Concentric's total holdings of own shares represent approximately 0.3 percent of the total number of shares. In addition to this, 204,435 shares have been transferred to an employee share ownership trust. Including these shares Concentric's holdings is 310,588 shares, corresponding to approximately 0.8 percent of the total number of shares in Concentric. Consequently, the acquisitions may comprise a maximum of 3,519,172 shares in total, limited to a maximum of 150,000,000 SEK.

For further information, please contact Marcus Whitehouse, Tel: +44 121 445 6545 or E-mail: [email protected]

This information is information that Concentric AB 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, at 08:00 CET on 26th July 2023.

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SOURCE Concentric AB