Kindred is allowed to purchase 23 million shares

Kindred is allowed to purchase 23 million shares

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Kindred is allowed to purchase 23 million shares

Kindred shareholders allowed the brand to purchase the twenty-three million of its own shares.

The mandate was granted at Kindred’s general meeting.

The buyback is going to happen between August 1st and the group’s coming general meeting which takes place every year. Nevertheless, during the closing time, which happens prior to the issuing the quarterly outcomes, no buyback will be made.

The maximum number of shares that can be bought back is twenty-three million. At this moment the number of issued shares from the group amounts to 230.1 million. Presently kindred holds the ten million of those shares.

In total, Kindred is unable to dispose of more than ten percent of its total shares, as the board has stated that it has the intention to cancel the repurchased shares after the repurchase period.

Kindred’s share at the moment is 88.92 Swedish krona.

In July, kindred announced that the brand has faced an 32.2% annual profit decrease during the 2022’s Q1. The main element in this was the termination of Kindred’s activities across the Netherlands, which was over in accordance with licensing rules established by the Dutch government.

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