The board of directors of Hemnet Group AB (publ) ("Hemnet") has resolved to utilise the authorisation granted by the annual general meeting held on 25 April 2024 to repurchase Hemnet's own shares in order to adjust Hemnet's capital structure.
Acquisitions of shares pursuant to the share buy-back program will be carried out in accordance with the EU Market Abuse Regulation (EU) No 596/2014 ("MAR") and the Commission Delegated Regulation (EU) 2016/1052 (the "Safe Harbour Regulation"). Acquisitions of shares will be managed by an investment firm or credit institution that makes its trading decisions regarding the timing of the acquisitions of Hemnet's shares independently of Hemnet.
The share buy-back program is subject to the following terms:
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Hemnet may purchase ordinary shares to the extent that Hemnet's holding at no time exceeds ten (10) percent of the total amount of shares in Hemnet. The maximum purchase amount is SEK 450,000,000.
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Purchases are to be made on Nasdaq Stockholm in accordance with the Nasdaq Nordic Main Market Rulebook, MAR and the Safe Harbour Regulation.
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The shares shall be purchased at a per-share price within the prevailing price range (spread) on Nasdaq Stockholm, meaning the spread between the highest purchase price and the lowest selling price prevailing and disseminated by Nasdaq Stockholm from time to time.
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Purchases of shares can be made from 2 May 2024 and until the date of the annual general meeting 2025.
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Payment for the shares shall be made in cash.
The purpose of the purchases under the share buy-back program is to adjust Hemnet's capital structure by reducing its share capital. Accordingly, the board of directors intends to propose to the annual general meeting 2025 that the repurchased shares are redeemed.
Hemnet's current holding of own shares
Hemnet currently holds 2,349,520 own shares, of which 2,112,069 will be redeemed in accordance with the resolution from the annual general meeting. The total number of shares in the company is 98,351,050.
For more information, please contact:
Press enquiries
Staffan Tell, Head of PR
M: +46 733 67 66 85
E: [email protected]
IR enquiries
Anders Örnulf, CFO
M: +46 72 732 10 12
E: [email protected]
Nick Lundvall, IR Manager & Head of Corporate Development
M: +46 76 145 21 78
E: [email protected]
About Hemnet
Hemnet operates the leading property platform in Sweden. The company emerged as an industry initiative in 1998 and has since transformed into a "win-win" value proposition for the housing market. By offering a unique combination of relevant products, insights and inspiration, Hemnet has built lasting relationships with buyers, sellers, and agents for more than 20 years. Hemnet shares a mutual passion for homes with its stakeholders and is driven by being an independent go-to-place for people to turn to for the various housing needs that arise through life. This is mirrored in the Company's vision to be the key to your property journey, supplying products and services to improve efficiency, transparency and mobility on the housing market. Hemnet is listed on Nasdaq Stockholm ('HEM').
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Hemnet Group AB (publ)