Arise AB (OM:ARISE) commences an Equity Buyback Plan for 4,449,423 shares, representing 10% of its issued share capital, under the authorization approved on May 4, 2023.
November 20, 2023 at 12:09 pm EST
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Arise AB (publ) (OM:ARISE) commences share repurchases on November 16, 2023, under the program mandated by the shareholders in the Annual General Meeting held on May 4, 2023. As per the mandate, the company is authorized to repurchase up to 4,449,423 shares, representing 10% of its issued share capital. The purchase price shall be no less than the quotation price at the time of the offer with a maximum deviation of 20 percent upwards. The repurchased shares will be used in order to enable changes of the capital structure of the company, to finance acquisitions or other transactions, or otherwise for disposal or redemption. The repurchase authority is valid until next Annual General Meeting. As of April 3, 2023, the company had 44,494,235 shares in issue and 54,194 shares in treasury.
On November 14, 2023, the company announced a share repurchase program. Under the program, the company will repurchase SEK 100 million worth of it's shares. The repurchases will commence from November 16, 2023, and will be valid till Annual General Meeting of 2024. The purpose of repurchase program is to adapt the Company?s capital structure to its capital requirements over time, and thereby contribute to increased shareholder value.
Arise AB is a Sweden-based company engaged in the renewable energy industry. Arise manages the entire value chain - from exploration and permit management to financing, construction, sales and long-term management of wind power electricity production. The Company's business model consists of three areas: Project development, construction and sales of projects for renewable electricity production; Management of renewable electricity production; Production and sales of electricity and electricity certificates. The business areas are reported in two business segments. The purpose of the Development and management segment is to develop, construct, sell and manage wind farms. Own wind power operations are the Groupâs wholly owned operational wind farms that are owned in separate subsidiaries.
Arise AB (OM: ARISE) commences an Equity Buyback Plan for 4,449,423 shares, representing 10% of its issued share capital, under the authorization approved on May 4, 2023.
ARISE AB 
