Feb 10, 2015 12:00 AM CET
Com Hem Holding AB (”Com Hem” or “Company”) today announces that the Board of Directors has decided on a number of measures aimed at increasing the shareholder returns. The decisions are made on the back of the company’s strong performance, transformed balance sheet and reduced interest payments going forward. This can be achieved while investing in our business to deliver our operational plan, servicing our debt and remaining within our leverage target.
The Board of Directors has decided to:
”These proposals prove our commitment to deliver attractive returns to our shareholders while maintaining sufficient financial flexibility to support the company’s growth ambitions. We are confident Com Hem will continue to generate strong cash flows going forward on the back of further operational improvement, reduced interest costs and healthy growth”, said Andrew Barron, Chairman of the Board of Directors at Com Hem.
”Since listing, Com Hem’s operational and financial performance has been strong. Important KPI:s such as churn and customer intake have improved and when considering the full year, we have reduced debt by SEK 5.7bn and lowered our cash interest payments by SEK 500m per year. Com Hem is now a robust business which will be highly a highly cash generative, as made evident by the Q4 report, and we can therefore distribute excess cash to shareholders while investing to deliver our operational plan, servicing our debt and remaining within our leverage target”, said Anders Nilsson, Chief Executive Officer at Com Hem.
The conditions of the proposed redemption programme will be announced in the invitation for the EGM, to be distributed on 12 February 2015.
LionTree Advisors is acting as financial advisor to Com Hem.
Fredrik Hallstan, Head of PR
Tel: +46(0)761 15 38 30
Carolina Haglund Strömlid, Head of Investor Relations
Tel: +46(0)708 80 71 73
Com Hem Holding AB discloses the information provided herein pursuant to the Swedish Securities Markets Act (2007:528) and/or the Swedish Financial Instruments Trading Act (1991:980). The information was submitted for publication on 10 February 2015 at 07:29 CET.
Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as “believe,” “expect,” “anticipate,” “intends,” “estimate,” “will,” “may,” “continue,” “should” and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions.
Although Com Hem believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements.
The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice.