IAR Systems launches sale of treasury shares
Uppsala, Monday, May 28, 2012
The Board of IAR Systems has decided that under the authorization by the AGM on 24 April 2012, giving senior management a mandate to dispose of treasury shares of series B.
The disposal must be made on the NASDAQ OMX Stockholm at the prevailing market price prevailing at each particular time interval. The disposal can take place from May 28, 2012 and until the next AGM. The maximum number of B shares to be divested is 300 000.
The purpose of the sale is to fund additional consideration for the acquisition of Signum Systems Corp. The disposal of treasury shares is also expected to result in an increased institutional ownership base and improve liquidity in the share price.
IAR Systems Group AB currently owns 634 600 Class B shares, representing 5.4% of the total shares in the company.