Epiroc to Use Mandates for Share Repurchases and Sales
Epiroc AB's board of directors has decided to utilize mandates granted by the Annual General Meeting for share repurchases and sales at one or more occasions until the next Annual General Meeting.
Stockholm, Sweden – Epiroc AB's board of directors has resolved to use mandates granted by the Annual General Meeting today to repurchase and sell shares. These transactions will occur at one or more instances before the next Annual General Meeting.
The mandates allow for the acquisition of up to 1.8 million Series A shares, with a significant portion intended for transfer to holders under a performance-based personnel option plan. Additionally, the company plans to acquire up to 20,000 Series A shares to be sold on the market as part of remuneration for board members who have opted for synthetic shares.
Further plans include the sale of up to 60,000 Series A shares to cover costs associated with previously issued synthetic shares to board members. Epiroc also intends to sell up to 2.6 million Series A shares currently held by the company to fulfill obligations related to personnel option plans from 2019 through 2023.
These share repurchases and sales are subject to market conditions, regulatory restrictions, and the company's capital structure at any given time. Epiroc is a global productivity partner for customers in the mining and construction industries.