STOCKHOLM--(BUSINESS WIRE)--The 2010 Annual General Meeting of Haldex AB of shareholders resolved to authorize the company’s Board of Directors to make decisions concerning the buyback of the company’s own shares in order to safeguard the company’s option program. Haldex hereby announces that the company’s Board of Directors has decided to exercise the authorization for this purpose.
The shares will be purchased on Nasdaq OMX Stockholm at a price within the registered span of prices at the particular time.
Share buybacks will be permissible from March 1, 2011 through May 13, 2011. No shares will be bought back during a period of 30 days prior to the publication of the first-quarter report, including the date of publication.
On February 22, 2011 Haldex AB owned 376,470 treasury shares. The total number of shares issued by Haldex is currently 44,215,970 and the number of shares to be bought back may not exceed 86,030.
Haldex (www.haldex.com), headquartered in Stockholm, Sweden, is a provider of proprietary and innovative solutions to the global vehicle industry, with focus on products in vehicles that enhance safety, environment and vehicle dynamics. Haldex is listed on the Nasdaq OMX Stockholm Stock Exchange and had net sales of nearly 5.5 billion SEK in 2009. The number of employees amounts to about 4,000.
Haldex discloses the information in this press release according to the Swedish Securities Market Act and/or the Swedish Financial Trading Act. The information was provided for public release on March 1, 2011, at 08.30.
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