Wall to Wall Group AB (OM:WTW A) commences an Equity Buyback Plan for 1,376,658 shares, representing 9.63% of its issued share capital, under the authorization approved on April 15, 2024.
April 29, 2024 at 11:30 am IST
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Wall to Wall Group AB (OM:WTW A) commences share repurchases on April 22, 2024, under the program mandated by the shareholders in the Annual General Meeting held on April 15, 2024. As per the mandate, the company is authorized to repurchase its up to 1,331,022 shares, representing 9.63% of its issued share capital. The shares will be repurchased in a manner such that the company?s holding in treasury does not exceed 10% of its issued share capital. The shares will be repurchased at a price that will correspond to the market price at the time of the acquisition with a deviation that does not exceed the registered price interval on each occasion. The purpose of the program is to give the company flexibility regarding its equity and thereby optimize the capital structure of the company. The repurchased share can be used as payment for, or financing of, acquisitions of companies and to be able to fulfil undertakings in accordance with future incentive programs. The authority shall expire at date on which the next Annual General Meeting is required to be held. As of March 11, 2024, the company had 13,817,291 issued and outstanding shares, out of which 11,817,291 were A shares and 2,000,000 were B shares and the company had 50,707 shares in treasury.
On April 15, 2024, the company announces a share repurchase program. Under the program, the company will repurchase up to 1,317,372 A shares, for a total of SEK 120 million through its broker Carnegie Investment Bank AB (publ).
Wall To Wall Group AB, formerly Tebede AB is a Sweden-based holding company. The Company, through the subsidiary Spolargruppen, specializes in pipe collection, pipe flushing, maintenance and sealing of ventilation ducts, as well as other complementary and related services that are sold and performed in the same market channels, such as geothermal solutions in apartment buildings. Its customers are property owners, mainly commercial managers of homes and premises, public utilities and housing associations. The Company has its focus on both acquisitions and organic growth, including through establishments in new locations. The Company operates in Sweden, Norway, Denmark and Finland.
Wall to Wall Group AB (OM: WTW A) commences an Equity Buyback Plan for 1,376,658 shares, representing 9.63% of its issued share capital, under the authorization approved on April 15, 2024.
WALL TO WALL GROUP AB 
