A & O to buy back own shares

Under certain conditions the electrical and sanitation wholesaler Brodrene A & O Johansen A/S from Albertslund/DK would like to buy back 223,005.........

of its own 100 DKK preference shares from Sanistal A/S. This would be 39.12% of A & O’s entire share capital. The purchase price amounts to approx. DKK 401 m (EUR 53.7 m), which corresponds to DKK 1,797 (EUR 241) per share.

The precondition is that the board supports this plan at the shareholders’ meeting on 18th March, so that the matter may be settled on a sound legal basis.

In 2015 A & O’s turnover amounted to DKK 2,631.2 m (EUR 352.6 m) against DKK 2,258.7 m (EUR 302.7 m) in 2014. This turnover increase can be ascribed to the domestic Danish market and the takeover of Billig VVS from Ega.