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Ericsson finalizes reverse split 1:5
May 30, 2008, 11:00 (CEST) Download:
Telefonaktiebolaget LM Ericsson's (NASDAQ: ERIC) Annual General Meeting on April 9, 2008 resolved on a reverse split 1:5 of the company's shares. The reverse split has the effect that five shares of series A and five shares of series B, respectively, are consolidated into one share of series A and one share of series B, respectively.
The first day of trading in the company's A and B shares after the reverse split is June 2, 2008.
The record date for the reverse split is June 4, 2008. For those shareholders who on the record date do not hold a number of A shares and B shares respectively equally divisible by five, the surplus shares will be sold at the company's expense and the proceeds of the sale will be distributed among those shareholders around June 19, 2008.
Further, the ratio between the B share and an American Depositary Share (ADS), traded on NASDAQ, will be changed to 1:1. The first day of trading on NASDAQ with ADSs with ratio 1:1 to the consolidated shares is estimated to be June 10, 2008.
A brochure with information on the reverse split and the ratio change between the B share and the ADS is available on the company's web site, http://www.ericsson.com/ericsson/investors/index.shtml.
Ericsson is the world's leading provider of technology and services to telecom operators. The market leader in 2G and 3G mobile technologies, Ericsson supplies communications services and manages networks that serve more than 195 million subscribers. The company's portfolio comprises mobile and fixed network infrastructure, and broadband and multimedia solutions for operators, enterprises and developers. The Sony Ericsson joint venture provides consumers with feature-rich personal mobile devices.
The record date for the reverse split is June 4, 2008. For those shareholders who on the record date do not hold a number of A shares and B shares respectively equally divisible by five, the surplus shares will be sold at the company's expense and the proceeds of the sale will be distributed among those shareholders around June 19, 2008.
Further, the ratio between the B share and an American Depositary Share (ADS), traded on NASDAQ, will be changed to 1:1. The first day of trading on NASDAQ with ADSs with ratio 1:1 to the consolidated shares is estimated to be June 10, 2008.
A brochure with information on the reverse split and the ratio change between the B share and the ADS is available on the company's web site, http://www.ericsson.com/ericsson/investors/index.shtml.
Ericsson is the world's leading provider of technology and services to telecom operators. The market leader in 2G and 3G mobile technologies, Ericsson supplies communications services and manages networks that serve more than 195 million subscribers. The company's portfolio comprises mobile and fixed network infrastructure, and broadband and multimedia solutions for operators, enterprises and developers. The Sony Ericsson joint venture provides consumers with feature-rich personal mobile devices.
Ericsson is advancing its vision of 'communication for all' through innovation, technology, and sustainable business solutions. Working in 175 countries, more than 70,000 employees generated revenue of USD 27.9 billion (SEK 188 billion) in 2007. Founded in 1876 and headquartered in Stockholm, Sweden, Ericsson is listed on the Stockholm and NASDAQ stock exchanges.
For more information, visit www.ericsson.com or www.ericsson.mobi.
FOR FURTHER INFORMATION, PLEASE CONTACT
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Ericsson Media Relations
Phone: +46 8 719 69 92
E-mail: press.relations@ericsson.com
Investors
Ericsson Investor Relations
Phone: +46 8 719 00 00
E-mail: investor.relations@ericsson.com
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