LAHOLM, Sweden--(BUSINESS WIRE)--Regulatory News:
The Board of Directors of Arise Windpower AB (“Arise”)(STO:AWP) has resolved, under the existing authorization to buy back own shares granted by the Annual General Meeting on 25 April 2012, to buy back own shares for an amount of up to SEK 50 million. The authorisation to buy back own shares applies until the next Annual General Meeting and is limited to a maximum of 10 per cent of the total number of shares outstanding in the company.
The share buyback is aimed at increasing shareholder value by enabling the Board to continually adapt the company’s capital structure and ensure a high level of capital efficiency with regard to the current market situation and to be able to use own shares in connection with potential project acquisitions. The number of shares outstanding at 30 June was 33,428,070. Arise currently holds no treasury shares. Shares will be purchased on Nasdaq OMX Stockholm in accordance with the applicable rules. These, among other things, provide for a daily limit on share buybacks of 25 per cent of the average daily turnover during those four calendar weeks which immediately precede the week in which shares have been repurchased and that buybacks may only be made at prices within the bid-offer spread.
Halmstad, 6 August 2012
ARISE WINDPOWER AB (publ)
The information contained herein constitutes information which Arise Windpower AB is legally required to publish under the Swedish Securities Market Act (2007:528) and/or the Swedish Financial Instruments Trading Act (1991:980). The information was released for publication at 13.00 p.m. on 6 August 2012.
About Arise Windpower
Arise Windpower is one of Sweden’s leading companies in onshore wind power. Its business concept is to sell electricity generated at the company’s own wind turbines. The company’s target is to have about 700 MW (equivalent to about 300 wind turbines) in operation or under construction by 2014. Arise Windpower is listed on NASDAQ OMX Stockholm.
Arise Windpower AB (publ), Box 808, SE-301 18 Halmstad, Sweden, tel. +46 (0)35 20 20 900, org. no. 556274-6726 E-mail: info@arisewindpower.se, www.arisewindpower.se
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