Fingerprint Cards concludes buy-back of own shares
On June 3, 2016, Fingerprint Cards commenced the buy-back of its own shares as mandated by the Annual General Meeting (AGM) on May 4, 2016. The AGM's mandate authorized the Board, on one or more occasions during the period up to the next AGM, to make decisions concerning the acquisition of a number of Class B shares so that when they are aggregated, the company's holding at each point in time does not exceed 10% of the total number of shares in the company. The purpose of the buy-back is to optimize the company's capital structure and to create flexibility in terms of the company's possibilities of implementing corporate acquisitions.
The buy-back of own shares may only be carried out in an amount corresponding to unrestricted shareholders' equity (refer to the applicable section of the Swedish Companies Act below). The calculation shall be based on the most recently adopted balance sheet, which for Fingerprint Cards is the balance sheet of 2015, that was adopted at the AGM in May. At the end of 2015, unrestricted shareholders' equity in the Parent Company amounted to SEK 1,082 M, entailing that Fingerprint Cards AB, which has acquired shares for SEK 1,032 M, will shortly conclude the share buy-back scheme approved by the AGM.
During the period June 3 - September 15, 2016, Fingerprint Cards bought back a total of 10 228 000 shares, equivalent to 3% of the total number of shares, for a total price of SEK 1,032M. The average price was SEK 101.
The acquisition of own shares is subject to the Swedish Companies Act and constitutes a value transfer from the company. A value transfer during the year is limited to the amount corresponding to unrestricted shareholders' equity. The calculation shall be based on the most recently adopted balance sheet, meaning the end of 2015.
For further information, please contact:
Johan Wilsby, CFO Fingerprint Cards AB (publ), +46 (0)31-60 78 20, investrel@fingerprints.com
About Fingerprint Cards AB (publ)
Fingerprint Cards AB (FPC) is a high tech and listed company which develops, produces and markets biometric technology that through the analysis and matching of an individual's unique fingerprint verify the person's identity. A secure and convenient user experience is thus made possible, beyond keys and pins. The FPC technology offers world class advantages and include unique image quality, extreme robustness, low power consumption and complete biometric systems. With these advantages and in combination with low production costs the technology may be implemented in large volume products as smartphones, tablets and biometric cards where these demands are extremely high. FPC's technology have user cases from a number of applications.
The information was issued for publication on September 16, 2016 at 8:00 a.m.
Important information
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