GOTEBORG, Sweden, June 17, 2004 (PRIMEZONE) -- The board of AB Volvo have decided to acquire through purchase on Stockholmsborsen (Stockholm Exchange) a maximum of 22,076,045 Series A and/or Series B shares, however, not to exceed a total purchase amount of SEK 4,300,000,000.
On April 16, 2004, the Annual General Meeting of AB Volvo authorized the Board of Directors to decide on the acquisition of own shares for, among other reasons, to create a more effective capital management for AB Volvo. The purchases may be carried out during the period until the Annual General Meeting in 2005. The buyback shall be made within the so-called spread and settlements will be reported via Stockholmsborsen in accordance with applicable rules.
The total number of shares in AB Volvo amounts to 441,520,885, of which 138,604,945 Series A and 302,915,940 Series B shares. AB Volvo currently holds 22,076,043 of its own shares (treasury stock), of which 6,930,246 Series A and 15,145,797 Series B shares.
June 17, 2004
For further information, please contact:
Media Relations: Marten Wikforss, +46 66 11 27 or +46 705 59 11 49 Investor Relations: Fredrik Brunell, +46 31 66 11 91 or +46 705 59 10 91
The Volvo Group is one of the world's leading manufacturers of trucks, buses and construction equipment, drive systems for marine and industrial applications, aerospace components and services. The Group also provides complete solutions for financing and service. The Volvo Group, which employs about 76,000 people, has production facilities in 25 countries and sells their products in more than 185 markets. Annual sales of the Volvo Group amount to 18 billion euro. The Volvo Group is a publicly-held company headquartered in Goteborg, Sweden. Volvo shares are listed on the stock exchanges in Stockholm, London and Frankfurt and on NASDAQ in the US.
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