Luxembourg-based telecoms group Millicom International Cellular (MIC) has announced details of its planned share repurchase programme, which was approved at its Annual General Meeting of Shareholders back in May 2019. Based on the authorisation, Millicom’s board has decided to initiate a repurchase programme comprising not more than 350,000 shares. In accordance with the resolution at the AGM, the purpose of the plan is to reduce Millicom’s share capital (in value or in the number of shares) or to meet obligations arising from employee share option programmes.
Repurchases may take place during the period between 28 February 2020 and 5 May 2020. As of the 27 February 2020, the total number of outstanding shares in Millicom was 101,739,217 of which 580,143 were held by Millicom as treasury shares. Completed acquisitions will be disclosed and reported in accordance with applicable laws and regulations as well as Nasdaq Stockholm’s Rule Book for Issuers.