HMS Networks Board of Directors has resolved to repurchase shares.

Based on the authorization granted by the Annual General Meeting on April 28, 2016, the Board of Directors of HMS Networks AB (publ) ("HMS") has resolved to repurchase shares in the company to a maximum value of 10.4 MSEK. The purpose of the repurchase is to secure the Company's obligation in relation to HMS long term Share Saving Program.

The repurchase will be carried out in accordance with the Regulation (EU) No 596/2014 of the European Parliament and the Commission Delegated Regulation (EU) 2016/1052 and will be managed by SEB deciding on trading decisions, independent of HMS, regarding the timing of the repurchase

The repurchases are subject to the following terms. Acquisitions of shares shall be conducted on NASDAQ, Stockholm in accordance with its Rule Book for Issuers and in accordance with the EU regulations. The acquisitions will be performed on one or more occasions during the period until the 2017 Annual General Meeting, to a price within the registered range for the share price prevailing at the time, and in accordance with the Regulation (EU) 2016/1052 as regards to price. A maximum of 26 000 shares may be acquired to a total value of maximum 10.4 MSEK. Payment for the shares shall be made in cash.
Reporting will be made to NASDAQ, Stockholm in accordance with applicable rules. The transactions will also be made public and published on HMS website www.hms-networks.com.

Repurchase of shares may not result in a HMS holding of own shares, at any time, exceeding 10 % of the total number of shares in the Company. At the time of this press release, the total number of shares in the Company amounts to 11 704 717 and at this time the total number of shares held by HMS amounts to 2 883 own shares.

For more information, please contact:
Staffan Dahlström, CEO HMS, [phone]
Gunnar Högberg, CFO HMS, [phone]

This information is such that HMS Networks AB (publ) is required to disclose in accordance with the EU Market Abuse Regulation, the Swedish Financial Instruments Trading Act and the Swedish Securities Market Act. The information was submitted for publication at 01.30 pm CET on March 8, 2017.

HMS Networks AB (publ) is a market-leading supplier of products for industrial communication including remote management. HMS develops and manufactures solutions for connecting automation devices and systems to industrial networks under the Anybus, IXXAT, eWON and Intesis brands. Development and manufacturing take place at the headquarters in Halmstad, Sweden, Nivelles, Belgium, Igualada, Spain and in Ravensburg, Germany. Local sales and support are handled by sales offices in China, France, Germany, Switzerland, India, Italy, Japan, UK, Spain and USA. HMS employs approximately 500 people and reported sales of SEK 952 m in 2016. HMS is listed on the NASDAQ OMX Nordic Exchange in Stockholm in the category Mid Cap, Information Technology.

Press release (PDF)

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Source: HMS Networks AB via Globenewswire