Mandate to buy back shares
The 2018 Annual General Meeting received the Board's mandate to acquire up to 10 per cent of the company's shares, by acquiring B-shares.
Shares were bought back during 2008 to secure the company's commitments under the terms of the incentive scheme (see below). In total 760 000 of the company's Series "B" shares have been bought back, which corresponds to some 0.9 per cent of the total number of shares in issue and to some 0.3 per cent of the total number of votes. The average price paid for the bought back shares was SEK 201.70.
You will find updated information on Holmen's buy-backs on the Nasdaq website.
Buy backs of own shares to adjust capital structure
There is no specific target for share buy-backs. Holmen has used them as a complement to dividends as a means of adjusting the capital structure when conditions were deemed favourable. Share buy-backs took place in 2000 as well as 2008.
The 2008 Annual General Meeting voted in favour of the Board's proposal to introduce an incentive scheme for the Holmen Group's employees, whereby the employees were invited to acquire call options on Series "B" shares in Holmen at market price.
1 492 of the Group's approximately 4 800 employees purchased a total of 758 300 call options at a purchase price of SEK 20 per option. The exercise price of the options is SEK 224,50 per share. Each option entitles the owner to acquire one share during the excise period May/June 2013. Holmen's commitments pursuant to this scheme have been secured by the buy-back of the company's own shares.