H&M: To buy back own shares for SEK 3 bn

30 June 2022, Mumbai:

The board of directors of H & M Hennes & Mauritz AB has decided to utilise the authorisation granted by the 2022 annual general meeting to acquire the company’s own B shares in order to transfer capital to the shareholders and adjust the company’s capital structure.

The share buyback programme will be carried out in accordance with the EU Market Abuse Regulation (MAR) and Commission Delegated Regulation (EU) 2016/1052 (the so-called Safe Harbour Regulation).

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Acquisitions of shares will be managed by an investment firm or credit institution that makes its trading decisions regarding the timing of the acquisitions of H&M’s shares independently of H&M. In conjunction with the full-year report for 2021 the board of H&M communicated its intention to buy back shares for a total of SEK 3 billion in the period up to the 2023 annual general meeting.

The board has now decided to repurchase shares for this amount. The purpose of the purchases is to distribute surplus liquidity and thereby adjust H&M’s capital structure by reducing its capital.

Accordingly, the board of directors intends to propose to the 2023 annual general meeting that the repurchased shares are cancelled. It is intended that the reduction in share capital will be met by a corresponding bonus issue so that the level of share capital is restored.

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