Ericsson resolves on an acquisition offer for C shares for LTV 2012
Categories: Press Releases
In accordance with the resolution by the Annual General Meeting 2012, Ericsson (NASDAQ:ERIC) expands its treasury stock in order to provide shares for the Long-Term Variable Remuneration Program (LTV) 2012 for employees in Ericsson.
The Board of Directors of Ericsson has resolved, by virtue of an authorization given by the Annual General Meeting on May 3, 2012, to direct an acquisition offer to all holders of C shares to acquire these shares. Acquisition shall be made during the period May 25 - June 13, 2012. Payment for acquired shares shall be made in cash with SEK 5.0052 per share.
The offer is part of the financing of Ericsson's Long-Term Variable Remuneration Program 2012 and includes all 31 700 000 C shares which Ericsson has previously decided to issue to AB Industrivärden and Investor AB, for the program. AB Industrivärden and Investor AB have informed Ericsson that they intend to accept the offer.
Once all 31 700 000 C shares have been acquired by Ericsson, the Board intends to convert them to B shares. After the conversion, the number of B shares in issue will amount to 3 043 295 752. Ericsson currently holds 58 338 548 shares as treasury stock.
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