The shareholders of Oriflame Cosmetics S.A. (OM:ORI SDB) authorized a share repurchase program at the Extraordinary General Meeting on December 19, 2012. Under the program, the company will repurchase up to 5,712,113 shares and/or Swedish depositary receipts, representing 10% of its share capital, representing company shares which are admitted for trading on the NASDAQ OMX Stockholm market. The acquisition price per share acquired under the program shall not exceed the ... higher of the price of the last independent trade and the highest current independent bid on the NASDAQ OMX Nordic Exchange, and shall not be lower than the par value of the share. The shares will be repurchased on the open market. The acquired shares will be cancelled. The program will be funded using the available free reserves. The purpose of the program is to optimize the capital structure, which is enabled by the company’s strong financial position and good cash flow generation from the operations. The number of shares acquired under the mandate may during a single trading day not exceed 25% of the average daily volume of shares on the NASDAQ OMX Nordic Exchange. Further, the company intends to execute the program through a financial institution commissioned by it in different installments and in such a way that its ability to pay out ordinary dividend is also maintained. The program is to be carried out in accordance with the EU Safe Harbour regulation and in compliance with and for all purposes allowed by applicable laws, regulations and/or market practices whether in Luxembourg and/or in Sweden and in all cases in accordance with the objectives, conditions and restrictions provided by the Regulation (EC) No. 2273/2003 of December 22, 2003 implementing Directive 2003/6/EC of the European Parliament and of the Council as regards exemption for buyback programs and stabilization of the financial instruments. The program will be valid from December 20, 2012, till the Annual General Meeting to be held on May 19, 2014. On January 2, 2013, the company authorized the repurchase of SEK 350 million worth of shares at prevailing market prices under the program. The repurchase represents approximately 3% of the outstanding share capital. The repurchases will be conducted by a financial institution on behalf of the company. The repurchases will commence on January 2, 2013, and will end on April 23, 2013. On April 12, 2013, the program as announced on January 2, 2013 was completed. Till December 31, 2012, no purchases were made. As of April 12, 2013, the company repurchased 1,613,409 shares, representing 2.82% for SEK 350 million.
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