ITAB - Repurchase of ITAB TO 2 (2010/2012) warrants

Repurchase of ITAB TO 2 (2010/2012) warrants

9/11/2012 4:32:00 PM

ITAB Shop Concept AB’s Annual General Meeting held on 5 May 2010 decided to introduce an incentive scheme for company employees through the issue of warrants. 118 employees participated in the scheme and a total of 467,250 warrants were subscribed for at an issue price of SEK 4.32 per warrant, resulting in a capital injection of about SEK 2 million. Each warrant entitles the holder to subscribe for one Class B share in ITAB Shop Concept AB during the period 1 November 2012 through 30 November 2012 at a price of SEK 92.50 per share. 

On 5 September 2012, the Board decided to extend a repurchase offer in which the company offered to buy back warrants from warrant holders at a price based on the share’s closing price on 6 September 2012. The share’s closing price on 6 September was SEK 101.75 and the price of the warrant was calculated at SEK 9.25.

72 employees holding 315,000 warrants accepted this offer, which means the repurchase amount was about SEK 2.9 million. After the repurchase, the remaining warrants total 152,250 ITAB TO 2 (2010/2012). 

The purpose of the repurchase offer is to facilitate for holders to recover the value of the warrants. 

ITAB Shop Concept AB is listed on the OMX Nordic Exchange and supplies complete shop fitting and interior solutions to the food and non-food retail markets. ITAB is the market leader at checkout to retailers in Europe, and one of Europe’s largest supplier of shop fittings. Operations include project management, design, development, manufacturing and sales. The concept range includes shop fittings, primarily in wood and metal, as well as checkouts, entrance systems and lighting. The group has approximately 2200 employees and a turnover of SEK 3,341 million 2011.

This information was submitted for publication 11th of September 2012 at 10.35 a.m.

For further information, please contact: 

CEO, Ulf Rostedt 
Tel: +46 36 31 73 00
Cellphone: +46 70 694 86 82

CFO, Magnus Olsson
Tel: +46 36 31 73 00
Cellphone: +46 70 544 47 89