Kindreds stockholders have granted the firm permission to repurchase up to 23 million shares. This authorization was revealed at Kindreds special shareholder gathering.
Kindred is permitted to repurchase up to 23 million shares, which was disclosed at the company’s special shareholder gathering. The repurchase program will run from August 1, 2022, until Kindreds next annual shareholder meeting, but not during the blackout period preceding the release of quarterly results.
The repurchase limit is 23 million shares, while Kindred currently has 230.1 million shares in circulation. The company currently owns 10 million shares.
Although the board has stated its intention to cancel the repurchased shares after the buyback period, Kindred cannot hold more than 10% of its total shares.
Currently, Kindreds stock price is 88.92 Swedish Krona (7.16 GBP/8.54 EUR) per share.
Last month, Kindred reported that revenue declined by 32.2% year-over-year in the first half of the year. The primary reason for this was Kindreds cessation of operations in the Netherlands to comply with Dutch government licensing regulations.
