March 13, 2020 / 7:42 AM / 25 days ago

BRIEF-Intrum: Background To Initiating Share Buy-Backs

March 13 (Reuters) - Intrum AB:

* BACKGROUND TO INTRUM INITIATING SHARE BUY-BACKS

* IN LIGHT OF CURRENT GLOBAL EVENTS, INTRUM HAS DECIDED TO REDUCE ITS LEVEL OF INVESTMENTS AND INCREASE RATE OF RETURN

* REVIEWING ONGOING M&A PROJECTS.

* GIVEN SPREAD OF COVID-19 AND PREVAILING GLOBAL UNCERTAINTY, INTRUM HAS ALREADY TAKEN COMPREHENSIVE MEASURES TO ENSURE THAT WE ARE ABLE TO CONDUCT BUSINESS AS USUAL, AS FAR AS PRACTICALLY POSSIBLE, ESPECIALLY IN ITALY WHICH HAS BEEN MOST AFFECTED TO DATE

* WE THEREFORE ANTICIPATE THAT CASH FLOW WILL BE SOMEWHAT DELAYED IN ITALY, A MARKET WHICH ACCOUNTED FOR FOUR PER CENT OF INTRUM’S TOTAL CASH EBITDA IN 2019

* AT PRESENT, WE DO NOT SEE ANY FINANCIAL IMPACT ON OTHER MARKETS WHERE INTRUM IS ACTIVE

* INTWE HAVE DECIDED TO POSTPONE OUR CAPITAL MARKETS DAY THAT WAS PLANNED FOR 19TH MAY

* WE INTEND TO RESCHEDULE EVENT IN AUTUMN Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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