NAXS to repurchase own shares
August 16, 2011
The board of NAXS Nordic Access Buyout Fund AB (publ) ("NAXS") has resolved, pursuant to the authorization granted by the Annual General Shareholders meeting held on 4 May 2011, to repurchase own shares. Acquisition of shares may only take place at a price within the price interval recorded at any given time on the NASDAQ OMX Stockholm Exchange, which refers to the interval between the highest buying price and the lowest selling price.
As of date of this press release, the Company does not hold any own share. The outstanding number of shares in the Company is 15,000,000. In the event of a fully executed share repurchase program, the Company will own shares representing no more than ten (10) per cent of the issued shares in the Company.
Share repurchases shall be executed in intervals until next Annual General Shareholders Meeting, and are subject to market conditions and regulations at any given time.
The purpose of the share repurchase is to provide additional flexibility in regard to the Company's possibilities to distribute capital to its shareholders, to promote capital efficiency and to manage any discount to NAV affecting the Company's share price, which altogether is deemed to be susceptible to have a positive impact on the Company's share price development.