Press release
Lund, February 16, 2018
Doro AB ("Doro" or the "Company) today resolved to initiate a share buy-back program for a total amount of up to 25 MSEK, which is in line with dividend last year, up until April 26, 2018. The board of directors has also decided to propose no dividend for 2017. The purpose is to provide flexibility as regards the company's possibilities to distribute part of its retained earnings to the shareholders as well as to provide the board with a tool for optimising the company's capital structure, if that, at the time, is considered to be the best use of the company's available cash. The program permits share repurchases being executed during the upcoming closed period ahead of the first quarter interim report release, as defined by the Market Abuse regulation. The program is communicated in accordance with applicable regulations.
The program is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and the Commission Delegated Regulation (EU) No 2016/1052 (the "Safe Harbour Regulation"). The buy-back program will be managed by a securities company or credit institution that makes its trading decisions regarding Doro's shares independently of, and without influence by, Doro with regards to the timing of the repurchases.
The buy-back program resolved upon by the Board of Directors shall meet the following terms:
- Repurchases of shares are to be made on Nasdaq Stockholm and in accordance with Nasdaq Stockholm's Rule Book for Issuers and in accordance with MAR and the Safe Harbour Regulation.
- Share repurchases can be made from February 19, 2018 to April 26, 2018.
- Repurchases of shares on the Nasdaq Stockholm are to be made at a per-share price within the registered interval for the going rate at any given time, which denotes the interval between the highest and lowest selling price.
- Shares for a total maximum amount of 25 MSEK may be repurchased.
- A maximum of 2 375 525 shares may be repurchased. The Company's holding of its own shares may not at any time exceed 10 percent of the outstanding shares in the Company.
- Payment for the shares is to be made in cash.
The Board of Directors initiates this share buy-back in line with the resolution from the annual general meeting 2017. The total number of outstanding registered shares in Doro AB amounts to 23 755 255. Doro owned 0 own share per February 15, 2018.
For more information, please contact:
President and CEO Robert Puskaric, ir@doro.com
About Doro
Doro develops telecom products and services for Seniors to lead full and rich lives: to do things they want to do more easily as well as the things they thought they might never do. The global market-leader in senior mobile phone, Doro offers easy-to-use mobile phones and smartphones, mobile applications, fixed line telephony with loud and clear sound. Within Doro Group, Doro Care offers social care and telecare solutions for elder and disabled persons for independent and safe living in their own homes. Doro AB is a Swedish public company and its shares are quoted on the Nasdaq OMX Stockholm exchange, Nordic List, Small Companies. Net sales of SEK 1,924 million (EUR 200 million) were reported for 2017. www.doro.com
Visit Doro at www.doro.se
This information is information that Doro AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:30 a.m. CET on February 16, 2017.
http://prlibrary-eu.nasdaq.com/Resource/Download/d9ab4a04-e0ab-4a04-880f-f2dddbff4f5f
