Essity AB (OM:ESSITY B) commences an Equity Buyback for 70,234,248 shares, representing 10% of its issued share capital, under the authorization approved on March 21, 2024.
June 17, 2024 at 01:35 am EDT
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Essity AB (publ) (OM:ESSITY B) commences share repurchases on June 17, 2024, under the program mandated by the shareholders in the Annual General Meeting held on March 21, 2024. As per the mandate, the company is authorized to repurchase up to 70,234,248 B shares, representing 10% of its issued share capital. The shares will be repurchased at a price on Nasdaq Stockholm at a price within the at each time prevailing price interval for the share on the marketplace, meaning the interval between the highest purchase price and the lowest selling price.
The purpose of the proposed authorization is to be able to adapt the company?s capital structure. The repurchased shares will be used as payment or financing on account of acquisitions of companies or businesses, and thereby contribute to increased shareholder value. The program will be valid until the Annual General Meeting in 2025.
As of February 20, 2024, the company had 702,342,489 outstanding shares consisting of 60,970,043 are class A shares and 641,372,446 are class B shares and had no shares in treasury.
Essity AB is one of the world's leading manufacturers of hygiene products. Net sales break down by family of products as follows:
- human care products (40.3%): incontinence products (Tena), feminine protection products (Libresse, Bodyform, Nana, Nuvenia, Saba, Nosotras, Donnasept, etc.), diapers (Libero, Up & Go, Libero-Peaudouce, Drypers, Pequenin, etc.), compresses and bandages.
- paper hygiene products (32.6%): paper towels, toilet paper, handkerchiefs, wipes, etc. sold under Tempo, Colhogar, Cozy, Cushelle, Danke, Delica, Demak Up, Favorita, Flen, Lotus, Lovly, Okay, Plenty, Regio and Zewa brands;
- professional hygiene products (26.8%): including toilet paper, handkerchiefs, hand lotions and hand soaps, hand sanitizers, as well as cleaning and wiping products;
- other (0.3%).
At the end of 2023, the group operated around 70 production sites in the world.
Net sales are distributed geographically as follows: Europe (60.3%), North America (17.4%), Latin America (17.1%), Asia (1.6%), and other (3.6%).
Essity AB (OM: ESSITY B) commences an Equity Buyback for 70,234,248 shares, representing 10% of its issued share capital, under the authorization approved on March 21, 2024.
ESSITY AB 
