The Electrolux Board today authorized additional share repurchases in accordance with the authorization by the Annual General Meeting of Shareholders in April 2003, according to the company.
The company‚Äôs board of directors is now authorized to acquire and transfer their own shares until the next annual general meeting. The company reports that shares of series A and/or B may be acquired if Electrolux owns a maximum of 10 percent of the total number of shares after each transaction. Purchases will reportedly only be allowed through transactions on the Stockholm Stock Exchange and/or London Stock Exchange at a price within the prevailing registered price interval.
According to the company, its share capital consists of 10,000,000 A-shares and 314,100,000 B-shares, totaling 324,100,000 shares. The company currently owns 11,937,172 previously repurchased B-shares, which is 3.7 percent of the total number of shares.
to Daily News