Redemption and buy back
Redemption and buy back |
| | No of shares | Buy back | Redemption | Value SEKm |
No of shares of outstanding before
redemption and buy back | 128 000 000 | | | |
| Redemption programme in 1998 | 112 108 801 | | -15 891 199 | 3 305 |
| Buy back programme in 2000- 2001 | 100 897 921 | -11 210 880 | | 974 |
| Redemption programme in 2005 | 90 929 060 | | -9 968 861 | 2 093 |
| Redemption programme in 2006 | 86 382 607 | | -4 546 453 | 2 205 |
Source: SSAB
SSAB has since 1998 through redemption programmes and buy back programmes reduced the number of shares outstanding by 41 617 393 at a value of SEK 8 577m. The number of shares outstanding has decreased from 128 000 000 in 1997 to 86 382 607 in mid 2006 and before the split in 2006. SSAB has carried through these programmes in order to restore the balance sheet to the target net gearing level (30 per cent). The company has taken into consideration its future need of capital for investments and the business cycle near term when deciding on the size of these redemption and buy back programmes.