SOLNA, Sweden, June 7, 2002 (PRIMEZONE) -- On June 6, 2002, NCC repurchased 1,000,000 of its Series B shares at an average price of SEK 73.25. The shares in question consisted of 5,474,589 Series B shares purchased at an average price of SEK 73.54 each. Following the reduction of the repurchased shares, the total number of NCC shares is 102,961,233.
NCC's holding of the Company's own shares corresponds to 5.05 percent of the total number of shares and 0.82 percent of the voting rights. The total number of NCC shares is 108,435,822.
The reason for repurchasing the shares was to cover the options program which, during 1999-2001, involved the allotment of options corresponding to a total of 7,035,380 shares to approximately 160 senior executives within the NCC Group.
On April 3, 2002, NCC's Annual General Meeting authorized the Board of Directors to buy back a maximum of 10 percent of the total number of shares prior to the next Annual General Meeting.
"We will gradually repurchase shares to cover allotments under the rolling options program. The program is being terminated as of this year and will be replaced by a bonus system that is linked to the Group's profitability and cash flow," said Bjorn Andersson, Chief Financial Officer.
For further information, contact: Bjorn Andersson, CFO, Tel: +46 8-585 52040 or +46 70-627 6592 Annica Gerentz, IR Manager, Tel: +46 8-585 52204 or +46 70-398 4209
All of NCC's press releases are available on www.ncc.se
NCC is one of the leading construction and property development companies in the Nordic region. NCC has annual sales of SEK 46 billion, with 25,000 employees.
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