Thursday, April 29, 2010
Share repurchase in IFS
The Board of Directors of IFS AB ("IFS"), (OMX Nordic Exchange: IFS A and IFS B), has decided, in accordance with the authorization received from the Annual General Meeting (AGM) 25 March 2010, to repurchase Series B shares in IFS. The total amount shall not exceed 250,000 IFS B shares, which corresponds to approximately 0.9 percent of the total number of shares outstanding in IFS. The acquisition price shall not exceed SKr 20 million. The board intends to propose to the coming AGM that the repurchased shares be cancelled.
The repurchases will be made on the OMX Nordic Exchange Stockholm from April 29 and onwards at a share price that falls within the registered range between the highest bid price and the lowest asking price at time of the acquisition, provided that the price does not exceed the higher of the price of the last independent trade and the highest current independent bid price.
The company does not currently own any of its own shares. The total number of outstanding shares in the company of both series is 26.405.422.
IFS is a public company (OMX STO: IFS) founded in 1983 that develops, supplies, and implements IFS Applications™, a component-based extended ERP suite built on SOA technology. IFS focuses on agile businesses where any of four core processes are strategic: Service & asset management, manufacturing, supply chain and projects. The company has 2,000 customers and is present in more than 50 countries with 2,700 employees in total. Net revenue in 2009 was SKr 2.6 billion. The information is that which IFS is required to declare by the Securities Business Act and/or the Financial Instruments Trading Act. The information was submitted for publication on April 29, 2010, at 08.30 p.m. CET.