IAR’s Board of Directors has resolved to purchase own shares
The Board of Directors of I.A.R. Systems Group AB ("IAR"), with the authority granted by the Annual General Meeting on April 26, 2023, has resolved that the company shall acquire its own Class B shares on Nasdaq Stockholm. The purpose of the acquisition is to provide the Board with increased flexibility in managing the company's capital structure.
The acquisition of Class B shares in IAR may take place until the Annual General Meeting of 2024, on one or several occasions. In total, the company may acquire a number of Class B shares that do not at any time exceed ten (10) percent of all shares in the company. As of the time of this press release, the total number of shares in IAR amounts to 7,963 Class B shares and 308,042 Class C shares.
The acquisitions will occur on Nasdaq Stockholm, in accordance with Nasdaq Stockholm's rules for issuers, at a price within the currently registered price range, which refers to the interval between the highest purchase price and the lowest selling price. Payment for repurchased shares shall be made in cash.
Contacts
Hanna Laurentz, Head of Corporate Communications, IAR
Tel: +46 18 16 78 00 E-mail: [email protected]
About IAR
IAR provides world-leading software and services for embedded development, enabling companies worldwide to create secure and innovative products for today and tomorrow. Since 1983, IAR’s solutions have ensured quality, security, reliability, and efficiency in developing over one million embedded applications for companies across industries such as industrial automation, IoT, automotive and medical. IAR supports 15,000 devices from over 70 semiconductor partners.
The company is headquartered in Uppsala, Sweden, and has sales and support offices worldwide. IAR is owned by I.A.R. Systems Group AB, listed on NASDAQ OMX Stockholm, Mid Cap (ticker symbol: IAR B). Learn more at www.iar.com.