GÖTEBORG, Sweden, April 30, 2020 /PRNewswire/ -- The Board of Directors of Castellum AB (publ) has, based on the authorisation from the Annual General Meeting held on March 19, 2020, resolved on repurchases of own shares.
The purpose of the repurchases is to be able to adapt the capital structure of the company to its capital needs and thereby contribute to an increased shareholder value. Castellum's financial position is solid. The Board of Directors' assessment is that there is room for executing the repurchases and, at the same time, meet the financing and liquidity requirements of the business.
The repurchases may be carried out on one or several occasions, during the period from April 30, 2020 until the next Annual General Meeting, only to the extent that the company, after each repurchase, will hold a maximum of ten per cent of all the shares in the company. The repurchases may be carried out by trading on Nasdaq Stockholm in accordance with its Rule Book for Issuers, at a price per share which is within the registered price range on Nasdaq Stockholm at the time, by which is meant the range between the highest buying price and the lowest selling price published continuously by Nasdaq Stockholm. Payment of the shares shall be made in cash.
Initially, the company intends to keep the shares that will be repurchased in order to be able to transfer own shares as payment, or in order to finance real property investments and/or acquisitions of real property companies/businesses.
At the time of this press release, Castellum does not hold any own shares.
This information is information that Castellum 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 below, at 15:50 CET on April 30, 2020.
Castellum is one of the largest listed real estate companies in Sweden. Property values total SEK 96.3 billion and holdings comprise office, warehousing/logistics and public-sector properties, covering a total leasable area of 4.3 million square metres. The real estate portfolio is owned and managed under the Castellum brand through a decentralized organization with strong and clear local presence in 17 Swedish cities, as well as Copenhagen and Helsinki. Castellum is ranked as the most gender-diverse of 600 listed European companies by European Women on Boards, 2020. Castellum is the only Nordic real estate/construction company elected to the Dow Jones Sustainability Index (DJSI), joining a select group of companies in the world who perform best on sustainability issues. In 2019, Castellum received two awards for sustainability efforts; designated Number One in the world by GRESB for the offices-and-logistics sector, as well as the Level Gold award for sustainability reporting from the EPRA (European Public Real Estate Association). The Castellum share is listed on Nasdaq Stockholm Large Cap. For further information visit www.castellum.com.
For more information, contact:
Henrik Saxborn, CEO, Castellum AB, + 46-(0)-31-60-74-50
Ulrika Danielsson, CFO, Castellum AB, +46-(0)-706-47-12-61
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