Wednesday, February 10, 2010
Share repurchase in IFS
As communicated in the year-end report for 2009, 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) 2009, 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 between February 10 and March 22 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 26,552,923.
IFS is a public company (OMX STO: IFS) founded in 1983 that develops, supplies, and implements IFS Applications™, a fully-integrated, component-based extended ERP suite built on SOA technology. The company has more than 2,000 customers in more than 50 countries and focuses on seven main industries: aerospace & defense, utilities & telecom, manufacturing, process industries, automotive, retail & wholesale distribution, and construction contracting & service management. IFS has 2,700 employees and net revenue in 2008 was SKr 2.5 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 February 10, 2010, at 08:00 a.m. CET.