Monday, May 24, 2010
Completion of share repurchase by IFS
With reference to its announcements of April 29 and May 11, 2010, concerning the repurchase of its own shares, IFS AB ("IFS"), (OMX Nordic Exchange: IFS A and IFS B), has today completed the repurchase by purchasing 500,000 of the company’s Series B shares, which corresponds to approximately 1.9 percent of the shares in IFS.
The Board of Directors will propose at the next Annual General Meeting that the repurchased shares be cancelled.
The average price of the repurchased shares amounted to SKr 76 per share. The company currently owns 647,501 B-shares, of which 147,501 are currently in the process of being cancelled. The total number of outstanding shares in the company of both series is 26,405,422, excluding the 147,501 currently being cancelled.
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 May 24, 2010, at 08:15 a.m. CET.