Monday, September 22, 2008
Completion of share repurchase by IFS
In addition to its announcement of September 19 2008 concerning the repurchase of its own shares, IFS AB ("IFS"), (OMX Nordic Exchange: IFS Series A and IFS Series B), today announced that it has completed the repurchase by purchasing 400,000 of the Company’s Series B shares, which corresponds to approximately 1.5 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 shares have been purchased at an average price of SKr 49 per share. The Company currently owns 400,000 shares of Series B. The total number of outstanding shares in the Company of both series currently amounts to 26,952,923.
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 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.