SSAB AB Repurchases 1.8 Million Shares as Part of Capital Structure Adjustment

SSAB AB Repurchases 1.8 Million Shares as Part of Capital Structure Adjustment

(IN BRIEF) Between December 18 and 22, 2023, SSAB AB (publ) has repurchased a total of 1,848,850 of its own shares, consisting of 466,854 shares of series A and 1,381,996 shares of series B. This buyback is part of a share buy-back program initiated by the Board of Directors aimed at adjusting the company’s capital structure to create more value for shareholders. The program, which runs from October 26, 2023, to March 11, 2024, is conducted in compliance with the Market Abuse Regulation (MAR) and the Safe Harbour Regulation. The Board of Directors intends to propose a reduction in share capital by canceling the acquired shares at the Annual General Meeting in 2024. Following these acquisitions, SSAB holds a total of 17,092,350 of its own shares, with 4,205,354 in series A and 12,886,996 in series B, out of a total of 1,029,835,326 shares in SSAB, comprising 304,183,270 shares of series A and 725,652,056 shares of series B. A detailed transaction breakdown is available as an attachment to the announcement.

(PRESS RELEASE) STOCKHOLM, 28-Dec-2023 — /EuropaWire/ — During the period 18 – 22 December 2023, SSAB AB (publ) (LEI 529900329VS14ZIML164) has repurchased in total 1,848,850 own shares, of which 466,854 shares of series A (ISIN: SE0000171100) and 1,381,996 shares of series B (ISIN: SE0000120669), as part of the share buy-back program initiated by the Board of Directors with the purpose to adjust the company’s capital structure so as to create greater value for the company’s shareholders.

The share buy-back program, which SSAB announced on 25 October 2023 and which runs between 26 October 2023 and 11 March 2024, at the latest, 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 Board of Directors intends to propose to the Annual General Meeting 2024 that it resolves to reduce the share capital by cancellation of the shares acquired by the company.

Shares of series A and series B in SSAB have been repurchased as follows as part of this share buy-back program.

Series A

Series B

All acquisitions have been carried out on Nasdaq Stockholm by BNP Paribas on behalf of SSAB. Following the above acquisitions, SSAB’s holding of own shares amounts to 17,092,350 shares, of which 4,205,354 shares of series A and 12,886,996 shares of series B, as of 22 December 2023. The total number of shares in SSAB is 1,029,835,326, of which 304,183,270 are shares of series A and 725,652,056 are shares of series B.

A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

Media Contacts:

Per Hillström
Head of Investor Relations
per.hillstrom@ssab.com
tel. +46 702 95 29 12

Viktoria Karsberg
Head of Corporate Identity and Group Communications
viktoria.karsberg@ssab.com
tel. +46 72 233 5288

SOURCE: SSAB