The board of directors of Com Hem Holding AB has resolved to initiate a share buyback program for a total amount of up to SEK 100 million up until January 30, 2017, the company said.
A maximum of 18,895,064 shares may be repurchased. The company´s holding of its own shares may not at any time exceed 10 per cent of the outstanding shares in the company.
Repurchased shares will reduce Com Hem´s share capital by shares being cancelled, after sufficient number of shares have been saved to be used for delivery of shares under Com Hem´s 2015 and 2016 LTIP Programs.
The buy-back program will be managed by a securities company or credit institution that makes its trading decisions regarding Com Hem´s shares independently of, and without influence by, Com Hem with regard to the timing of the repurchases.
Com Hem offers broadband, TV, play, and telephony services to approximately 40 percent of Swedish households and companies. The company has approximately 1,200 employees including about 700 within customer service. Com Hem is headquartered in Stockholm and operates through three subsidiaries; Com Hem AB, Phonera FÃ¶retag AB and iTUX Communication AB.