The Board of Directors of Bilia AB (publ) (”Bilia”) has decided to exercise its authorization from the Annual General Meeting (“AGM”) on April 27, 2021 to repurchase a maximum of 4,000,000 own shares. The main reason for the repurchasing program is to optimize the capital structure of the company.
Repurchases may take place until the company’s next AGM, on one or several occasions, and may not result in the company at any time holding own shares in excess of 10 per cent of the total number of shares in the company.
After completion of repurchasing program of 4,000,000 shares, the authorization from the AGM will be exercised. The Board of Directors intends to propose to the AGM on April 7, 2022 that repurchased shares be canceled.
The shares will be bought on Nasdaq Stockholm in accordance with its Rule Book for Issuers, at a price per share within the price range on Nasdaq Stockholm at any given time, by which is meant the range between the highest buying price and the lowest selling price published continuously by Nasdaq Stockholm. Payment for the shares shall be made in cash.
At the time of this press release the total number of shares in the company is 102,799,952 and Bilia holds 6,250,451 own shares.
The Board of Directors of Bilia intends, based on the interim report for the third quarter, to also propose to the AGM on April 7, 2022 a dividend of a total of
SEK 8 per share, divided into four quarterly dividend occasions with SEK 2 per dividend occasion.
Gothenburg, December 2, 2021
Bilia AB (publ)
This is information that Bilia AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 16:15 CET, on December 2, 2021.
Facts about the Bilia Group
Bilia is one of Europe’s largest car dealers with a leading position within service and sales of cars, transport vehicles and trucks. Bilia has about 160 facilities in Sweden, Norway, Germany, Luxembourg and Belgium. Bilia sells cars of the brand Volvo, BMW, Toyota, Mercedes, Renault, Lexus, MINI, Porsche, Nissan, Dacia, Smart and Alpine and transport vehicles of the brand Renault, Toyota, Mercedes, Nissan and Dacia and trucks of the brand Mercedes.
Bilia has today a fully expanded business with sales of new cars, e-commerce, spare parts and store sales, service and repair workshops, tyres and car glass and financing, insurance, car washes, fuel stations and auto salvage under the same roof, which gives a unique offer.
Bilia reported a turnover of about SEK 30 bn in 2020 and had about 4,700 employees.