news.liqueous.com
loomis ab embarks on aggressive share buyback for financial fortification 56

Finance

Loomis AB Embarks on Aggressive Share Buyback for Financial Fortification

reading

Robert Tavares

May 6, 2024 - 18:18 pm

reading

Loomis AB Set to Fortify Market Position Through Strategic Share Repurchase

STOCKHOLM, May 6, 2024 – In a strategic move to strengthen its market position, Loomis AB's Board of Directors has announced a major share repurchase plan that is set to commence immediately. This significant decision comes as a direct execution of the authorization conferred during the Annual General Meeting earlier this year. It marks a confident step by the company toward robust financial maneuvering and showcases the board's commitment to enhancing shareholder value.

Share Buyback Program Initiated by Loomis AB's Board

The buyback program has been meticulously planned to run between May 7, 2024, and June 24, 2024. The execution of the plan will see Loomis AB acquire shares worth up to SEK 200 million, a significant investment aimed at capital reorganization. These transactions are slated to take place on the Nasdaq Stockholm in multiple tranches, ensuring that the acquisition of shares is done within the prevailing price interval. This range is strictly between the highest buying price and the lowest selling price available at the time of each purchase, guaranteeing financial prudence and discipline in the share buyback process.

The payment for these repurchased shares is set to be fulfilled in cash, further asserting the robust liquidity position of Loomis AB. The company has entrusted Danske Bank A/S, Danmark, Sverige Filial, with the administrative responsibilities for this repurchase. In exercising this trust, Loomis has empowered Danske Bank A/S to independently make trading decisions about the timing of the share acquisitions, acting on the detailed trading order provided by Loomis. This thereby underscores the level of professionalism and due diligence that is being applied throughout this process.

Transparent Reporting in Compliance with Stock Exchange Rules

Loomis AB has committed to full disclosure and transparency by indicating that all relevant reporting regarding the share buyback will be promptly communicated through the stock exchange. This adherence to the applicable rules is indicative of the company's unwavering commitment to corporate governance and shareholder communications.

The primary objective behind the repurchase is rooted in the strategic directions outlined within the general meeting's authorization, which includes optimizing the company's capital structure and providing an impetus for long-term value growth. This strategic action aligns with the company's broader financial strategies as it continues to navigate the market dynamics.

Position of Loomis AB's Shares Following Buyback

Currently, Loomis AB's shareholding of its own shares stands at 4,908,782. When considering the total number of shares in the company, including those the company holds, the figure reaches 75,279,829. This stock repurchase plan follows the company's announcement made during the Annual General Meeting of 2024, in which it resolved to cancel 4,279,829 of the treasury shares it holds. The successful completion of this meticulous transaction process will result in the total outstanding number of shares and votes in Loomis AB being solidified at 71,000,000. This reduction is expected to contribute to a more streamlined and effective capital structure.

Accessibility to the Press Release and Contact Information

Loomis AB values open communication with stakeholders and the public, which is evident from the ready availability of this press release on the company's official website, which can be found at www.loomis.com. By providing easy access to this information, the company continues to foster transparency and cultivate trust among its investors, customers, and the larger financial community.

The company has also designated Jenny Boström, Head of Sustainability and IR, as the official contact person to provide further insights into the repurchase plan. Jenny Boström can be reached at her mobile phone number +46 79 006 45 92 or through email at [email protected] for any inquiries or additional information regarding the ongoing share repurchases and the company's broader sustainability initiatives.

Further information and updates about Loomis AB, including the share repurchase program, can be accessed at Cision's news portal http://news.cision.com, which promises to deliver essential and timely news to all interested parties.

Additional Resources for Download

As part of its commitment to providing comprehensive information regarding the share repurchase initiative, Loomis AB has made available several documents for download. These files contain detailed insights and formal declarations about this corporate move and can be accessed via https://mb.cision.com/Main/51/3974087/2781397.pdf. The document titled "The Board of Loomis has resolved to continue to repurchase own shares" sheds light on the board's resolution and offers a detailed view of the planned execution of the repurchase strategy.

In Conclusion

Loomis AB's share repurchase plan underlines a strategic financial management move, poised to strengthen the company's market standing and enhance shareholder value. The scheme, meticulously designed to operate within well-defined financial parameters, emphasizes the firm's judicious approach to market operations. By employing a transparent process, with a commitment to reporting and accessibility of information, Loomis AB exemplifies corporate governance while cultivating investor confidence.

The ensuing reduction of the total number of shares promises a streamlined capital structure and signifies the company's focus on effective capital management. As this news makes its way across global markets, Loomis AB continues to stand as a solid example of a well-managed enterprise that endeavors to operate with precision and adhere to its fiduciary responsibilities toward its shareholders.

Investors, company stakeholders, and the financial community at large are keeping a close watch as this share repurchase program unfolds. Loomis AB, with this bold market move, is not just buying back shares, but is also reaffirming its faith in its future growth trajectory and its unwavering commitment to maintaining a strong and resilient financial foundation.

For further information:

Loomis AB invites interested parties to keep abreast of company developments and updates through the aforementioned sources. The chosen delegate for communications, Jenny Boström, stands ready to clarify any matters and engage with the wider investor community, underscoring the company's resolve to stay connected with its stakeholders. These events serve as yet another chapter in Loomis AB's ongoing narrative of growth, innovation, and steadfast commitment to proven financial strategies.

SOURCE: Loomis AB

Downloads:

  • The Board of Loomis has resolved to continue to repurchase own shares: Download PDF

In the modern financial landscape, actions such as these taken by Loomis AB resonate well beyond corporate boundaries. They reflect a proactive approach to corporate finance that not only preserves the company's health but also signals its efforts to operate within a framework that benefits all stakeholders involved. As such, Loomis AB remains an entity to watch and learn from as it navigates through the complexities of the global economic arena.

Questions about the share repurchase program should be directed toward the prolific communication channels as outlined. As the financial world looks on, many anticipate that Loomis AB's well-articulated share repurchase plan will yield the desired outcomes and set a precedent for other corporations to emulate. The company's approach provides a blueprint for sound financial governance and strategic market participation that others may follow in the pursuit of corporate excellence and shareholder satisfaction.

Loomis AB, with a now fortified position thanks to its decisive board actions, continues to underscore its leadership within its industry. The company not only demonstrates sound financial acumen but also a proactive stance in times of market uncertainty. Such repurchase programs as conducted by Loomis are often indicative of a firm's bullish outlook on its valuation and intrinsic worth. It is a testimony to the belief that the market may undervalue its shares, presenting an opportune moment for re-investment into its own equity and, by extension, its future.

This announcement has undoubtedly piqued the interest of financial analysts and investors alike, who will be keenly monitoring the impact of the buyback on the market price, earnings per share, and the overall value proposition of Loomis AB. It provides an insightful case study into the mechanisms of share repurchase strategies and their role in strategic financial planning, ensuring that Loomis remains a subject for academia, investors, and competitors to study and understand.

With such transparent and well-structured financial practices, Loomis AB continues to reinforce the importance of strong corporate governance. It is through such governance that companies can navigate complex financial landscapes, ensuring stability and growth. As Loomis embarks on this share repurchase journey, it stands as a testament to responsible corporate stewardship, advocating for practices that support sustainable growth and development, to the benefit of its shareholders and the broader financial community.

And so, with the commencement of this share repurchase program, Loomis AB takes a forward step, setting the stage for a future that is as promising as it is meticulously planned. This endeavor is yet another example of Loomis's ability to harmonize strategic financial goals with market realities, ensuring it continues to move forward with vigor and determination. It stands as a bastion of financial integrity, showcasing the unwavering commitment to enhancing value for its esteemed shareholders and steadfast resilience in maintaining market leadership.

Contact Details:

  • Jenny Boström, Head of Sustainability and IR
  • Mobile: +46 79 006 45 92
  • Email: [email protected]

As this news releases to the public, the vision of Loomis AB becomes ever more lucid—robust, strategic, and poised for future success. Observers and participants in the financial sector alike will continue to watch with interest as Loomis AB executes its plan, expecting to witness a reinforcement of its leading stance in its industry and a subsequent and continuous elevation of its market value.

Visitpress release on Loomis website

Access news via Cision

Download the detailed press release document