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Peab: Peab sells own shares to Ingvar Kamprad

Press release published at The Swedish Wire
 

Peab has sold 8 581 236 shares of series B to Ingvar Kamprad, corresponding to 2.9 percent of the shares. The disposal is a direct transaction between the parties off-exchange on September 19, 2011 at a price of SEK 34.96 per share, representing the closing price on Friday, 16 September 2011.

Peab's holding of own shares before the transaction is 9,668,220 shares representing 3.3 percent of the capital. Following the disposal Peab holds 1,086,984 own shares corresponding to 0.4 percent of the capital.
The disposal is in accordance with the authorization for the transfer of shares which the Board received at Peab's Annual General 2011. This authorization applies to the next AGM.
The purpose of Peab's holding of own shares, is to use these to finance acquisitions and to improve the capital structure.
 - Peab and IKEA have previously teamed up on IKEA's expansion in Sweden, Norway and Finland. The agreement means that 10 new stores will be built according to each country's expansion plan. With this background, and the importance of having strong owners, it feels very positive that Ingvar Kamprad is a new owner of Peab, says Peab's CEO Jan Johansson.

 

For further information, contact:
Jesper Göransson, CFO Peab +46 733 371013

Gösta Sjöström, CIO Peab +46 733 371010

Peab AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act.

The information was submitted for publication at 8.55 a.m. 19 September 2011.

Previous press releases from Peab are available at www.peab.com (http://www.peab.com/)

 

Peab is one of the leading construction and civil engineering companies in the Nordic countries with 15,000 employees and a net sale amounting to around SEK 40 billion. The Group's subsidiaries have strategically located offices in Sweden, Norway and Finland. The share is listed on NASDAQ OMX Stockholm. The registered office of the Group is at Förslöv, Skåne in south of Sweden.
This information was distributed by Cision
 

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