In accordance with the authorization to acquire own shares given at the Extraordinary General Meeting on 15 September 2014, the Board of Directors of XXL ASA initiates a program to buy-back own shares. With reference to the stock exchange announcement on 25 February 2015 concerning a program for restricted share units, the share buy-back program is to cover for these stocks. The total number of shares to be acquired is up to 130,000 shares and the exact number of restricted share units will be available and disclosed soon. The highest price to be paid per share will be NOK 85, but shall in no event exceed the prevailing market price at the Oslo Stock Exchange on the relevant trading day. The shares will be purchased from the open market.
The share buy-back program will commence on 4 March 2015 and will continue until end of March 2015. The shares purchased will in full be used in the above mentioned program for restricted share units.
For further queries, please contact:
Tolle O. R. Grøterud, Head of Investor Relations, XXL ASA
Tel: +47 90 27 29 59
E-mail: ir@xxlasa.com
About XXL ASA
XXL is a leading sports retailer with stores and e-commerce in Norway, Sweden and Finland. It is the fastest growing among the major sports retailers in the Nordic. XXL pursues a broad customer appeal, offering a one stop shop experience with a wide range of products for sports, hunting, skiing, biking and other outdoor activities. XXL's concept is to have the largest stores with the lowest prices and the widest assortment of products, focusing on branded goods