Kindred repurchases 704,000 shares as part of buy-back program

By Peter Lynch

Kindred Group has repurchased a total of 704,000 shares as part of the buy-back program initiated by the board of directors, with the purpose to return excess cash to the company’s shareholders.

The repurchasing of the shares took place during the period of 1 March until 5 March 2021, after Kindred had initially announced the buy-back program on 26 February 2021.

The acquisitions were completed by Nordea Bank Abp on behalf of Kindred, with the buy-back program carried out in accordance with the EU Commission’s delegated Regulation No 2016/1052, EU Market Abuse Regulation No 596/2014, the Maltese Companies Act, and the applicable rules of Nasdaq’s Nordic Main Market Rulebook for Issuers of Shares.

Kindred repurchased a total of 200,000 shares on 1 March, followed by 400,000 and 40,000 shares on 2 March and 3 March respectively. And the company repurchased 32,000 shares each on 4 and 5 March.

Following the acquisitions, Kindred’s holding of own shares amounted to 3,675,358 as of 5 March. 

A maximum of 2,000,000 shares can be repurchased within the frame of the buy-back program, while the total share repurchases are not allowed to exceed SEK 190m ($22.1m).

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