Ericsson resolves on an acquisition offer for C shares for LTV 2017
May 03 2017 - 02:00AM
In accordance with the resolution by the Annual
General Meeting 2017, Ericsson (NASDAQ:ERIC) expands its treasury
stock in order to provide shares for the Long-Term Variable
Compensation Program (LTV) 2017 for Ericsson's executive team.
The Board of Directors of Ericsson has resolved,
by virtue of an authorization given by the Annual General Meeting
on March 29, 2017, to direct an acquisition offer to all holders of
C shares to acquire these shares. The acquisition shall be made
during the period May 14 - May 29, 2017 and payment for acquired
shares shall be made in cash with SEK 5 per share.
The offer is part of the financing of Ericsson's
Long-Term Variable Compensation Program 2017 and includes all
3,000,000 C shares which Ericsson has previously decided to issue
to Investor AB for the program. Investor AB has informed Ericsson
that it intends to accept the offer.
Once all 3,000,000 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
3,072,395,752. Ericsson currently holds 58,097,522 shares as
treasury stock.
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Ericsson is a world leader in
communications technology and services with headquarters in
Stockholm, Sweden. Our organization consists of more than 111,000
experts who provide customers in 180 countries with innovative
solutions and services. Together we are building a more connected
future where anyone and any industry is empowered to reach their
full potential. Net sales in 2016 were SEK 222.6 billion (USD 24.5
billion). The Ericsson stock is listed on Nasdaq Stockholm and on
NASDAQ in New York. Read more
on www.ericsson.com.
Ericsson resolves on an acquisition
offer for C shares for LTV 2017
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announcement is distributed by Nasdaq Corporate Solutions on behalf
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Source: Ericsson via Globenewswire
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