SEB Completes Share Buyback Program and Initiates New Program for Class A Shares

SEB Completes Share Buyback Program and Initiates New Program for Class A Shares

(IN BRIEF) SEB has successfully completed its latest share buyback program, repurchasing SEK 1.25 billion worth of Class A shares. Following this, the Board of Directors has decided to initiate a new buyback program of the same value. The new program will run until October 23, 2023, and aims to repurchase Class A shares to manage capital. The buyback program will be managed independently by a financial investment firm, ensuring trading decisions are made without influence from SEB. The repurchased shares are expected to be canceled, and the total holding of repurchased shares will not exceed 10% of SEB’s total issued shares.

(PRESS RELEASE) STOCKHOLM, 18-Jul-2023 — /EuropaWire/ — On 25 April 2023, SEB announced a SEK 1.25 billion share buyback programme for capital management purposes. The repurchases of shares began on 27 April 2023 and ended on 14 July 2023. During this period, SEB repurchased 10,660,063 of its own Class A shares at an average price per share of SEK 117.26, for a total purchase amount of SEK 1.25 billion.

On 17 July 2023, the Board of Directors resolved to utilise the authorisation granted by the Annual General Meeting held on 4 April 2023 to initiate a new SEK 1.25 billion buyback programme of Class A shares. The share buyback programme is expected to commence on 19 July 2023 and end on 23 October 2023, at the latest. A maximum number of shares may be repurchased so that SEB’s total holding at any time does not exceed 10 per cent of SEB’s total number of issued shares. Repurchased shares are expected to be cancelled.

The share buyback programme will be managed by an independent financial investment firm, which will make its trading decisions regarding the timing of the share repurchases independently of, and without influence by, SEB. Share repurchases shall take place on Nasdaq Stockholm Stock Exchange in accordance with the Nordic Main Market Rulebook for Issuers of Shares – NASDAQ Stockholm (Supplement D) and in accordance with the Regulation (EU) No 596/2014 of the European Parliament and of the Council on market abuse (MAR) and the Commission Delegated Regulation (EU) 2016/1052 (the Safe Harbour Regulation). Share repurchases under the share buyback programme may periodically be halted for SEB’s repurchases of own shares for SEB’s long-term incentive programme.

As of 30 June 2023, the total number of issued shares in SEB amounted to 2,139,983,495 and SEB held 45,957,326 own shares.

Information about the repurchases under the share buyback programme is published weekly on sebgroup.com.

SEB is a leading northern European financial services group with international reach. We exist to positively shape the future with responsible advice and capital, today and for generations to come. By partnering with our customers, we want to be a leading catalyst in the transition to a more sustainable world. In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services. In Denmark, Finland, Norway, Germany and the United Kingdom, we have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB’s business is reflected in our presence in more than 20 countries worldwide, with around 16,500 employees. At 31 March 2023, the Group’s total assets amounted to SEK 3,802bn while assets under management totalled SEK 2,221bn. Read more about SEB at sebgroup.com.

Media Contact:

Pawel Wyszynski, Head of Investor Relations
+46 70 462 2111
pawel.wyszynski@seb.se

Niklas Magnusson, Head of Media Relations & External Communication
+46 70 763 8243
niklas.x.magnusson@seb.se

SOURCE: Skandinaviska Enskilda Banken AB