STOCKHOLM, Sweden, Dec. 14, 2004 (PRIMEZONE) -- The Board of Directors of Elekta has decided to utilize the authorization the Board received from the Annual General Meeting to repurchase shares in the company.
Elekta's dividend policy is to distribute 20 percent or more of net profits to shareholders in the form of dividends, share repurchases or comparable measures.
Based on this policy, the company's strong financial position and current capital structure, Elekta's Annual General Meeting on September 21, 2004 resolved to authorize the Board to decide on the acquisition of a maximum of 10 percent of the total number of shares in the company.
With the aim of fulfilling the company's dividend policy, the Board decided today, December 14, 2004, to mandate the executive management to initiate on appropriate occasions the repurchase of shares in an amount of SEK 50 M, corresponding to 20 percent of net profit for the 2003/04 fiscal year, but maximized to 350,000 shares.
As of today, Elekta does not own any of its own shares. A repurchase of 350,000 shares is corresponding to 1.1 percent of the total number of outstanding shares in the company. Shares repurchased according to Elekta's dividend policy will be cancelled.
Purchases will be made on the Stockholm Stock Exchange and to a price within the spread at the time of purchase. Purchases can be made during the time until next Annual General Meeting.
For further information, please contact:
United States: Lars Jonsteg, VP Investor Relations North America Tel: +46 708-783 735 e-mail: lars.jonsteg@elekta.com International: Peter Ejemyr, Group VP Corporate Communications Tel: +46 733 611 000 e-mail: peter.ejemyr@elekta.com
Elekta is a world-leading supplier of advanced and innovative radiation oncology and neurosurgery solutions and services for precise treatment of cancer and brain disorders. Elekta's solutions are clinically effective, cost efficient and gentle to the patient.
For additional information about Elekta, please visit www.elekta.com
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