Friday, September 19, 2008
Share repurchase by IFS
Stockholm - The Board of Directors of IFS AB ("IFS"), (OMX Nordic Exchange: IFS A and IFS B), has decided, on the basis of the authorization received from the Annual General Meeting 2008, to repurchase a maximum of 450 000 IFS B shares, which corresponds to approximately 1,7 percent of all shares in IFS. The repurchased shares will be cancelled.
The repurchases will be made on the OMX Nordic Exchange Stockholm 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 will not exceed the higher of the price of the last independent trade and the highest current independent bid price.
Repurchases may be made of not more than 4,500,000 shares corresponding to approximately one 1,7 percent of all outstanding shares in the Company, and may only involve shares of series B.
The Board of Directors will propose to cancel the repurchased shares at the next Annual General Meeting. The Company currently do not hold its own shares. The total number of outstanding shares in the Company of all Series currently amount to 26 952 923.
Repurchases will be made on 19 September 2008. The repurchase of shares will correspond to a maximum aggregate consideration of SEK 20 million.
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 54 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 2,600 employees and net revenue in 2007 was SKr 2.4 billion.