To cover H+H International A/S’ (H+H) estimated obligations to grant H+H shares under the three pending share-based incentive programs vesting in March 2021, 2022 and 2023, respectively, H+H intends to use treasury shares to meet its obligations.
To be able to cover H+H’s obligations as based on the current estimate, the Board of Directors has decided to make use of the authorization granted by the general meeting to the H+H to acquire treasury shares (see company announcement No. 391 of 2 April 2020). Accordingly, H+H will acquire approx. 30,000 H+H shares, equivalent to 0.17% of the company’s share capital, through a bank. The buyback is planned to take place during the current open trading window ending by the end of 8 September 2020. If necessary, due to occurrence of inside information prematurely closing the trading window or due to unavailability of shares for sale in accordance with the terms of the authorization granted by the general meeting, the buyback transactions will first be completed during the next open trading window(s).
H+H currently holds 67,946 treasury shares equivalent to 0.38% of the company’s share capital.
Kent Arentoft Michael T Andersen
Chairman of the Board of Directors CEO
For further information please contact:
CEO Michael T Andersen, CFO Peter Klovgaard-Jørgensen or IR Manager Cristina Rønde Hefting on telephone +45 35 27 02 00
H+H’s core activity is the manufacture and sale of wall building materials, with a revenue in 2019 of DKK 2.8 billion. The main product lines are aircrete blocks and calcium silicate units used for the residential new building segment. H+H has 29 factories in Northern and Central Europe with a total annual output of more than 4 million cubic metres of products and has a leading position in most of its markets. H+H has more than 1,600 employees and is listed on Nasdaq Copenhagen.
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Buyback of H+H shares to hedge obligations under share-based incentive programs - GlobeNewswire
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