Completion of extended share repurchase by IFS
With reference to its announcement of May 11, 2010 concerning the extended repurchase of its own shares, IFS AB ("IFS"), (OMX Nordic Exchange: IFS A and IFS B), has today completed the extended repurchase as a block trade by purchasing 250,000 of the company’s Series B shares, which corresponds to approximately 0.9 percent of the shares in IFS. The shares have been purchased at a price of SKr 75 per share.
The Board of Directors will propose at the next Annual General Meeting that the repurchased shares be cancelled.
The initial announcement, for the repurchase of 250,000 shares, was made on April 29. Pertaining to that announcement 100,738 shares have been purchased so far, at an average price of SKr 77.39 per share.
The company currently owns 498,239 B-shares out of which 147,501 are currently in the process of being cancelled and 350,738 have been purchased since April 29. 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 12, 2010, at 8:45 a.m. CET.