STOCKHOLM, May 2, 2024 /PRNewswire/ -- In accordance with
the resolution by the Annual General Meeting 2024, Ericsson
(NASDAQ: ERIC) expands its treasury stock in order to provide
shares for the Long-Term Variable Compensation Program LTV I 2023
for Ericsson's executive team.
The Board of Directors of Ericsson has today resolved, by virtue
of authorization given by the Annual General Meeting on
April 3, 2024 (the "AGM 2024"), 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 27, 2024 and
payment for acquired shares shall be made in cash with
approximately SEK 5 per share
(corresponding to the quota value of the Ericsson share).
The offer is part of the financing of Ericsson's Long-Term
Variable Compensation Program LTV I 2023 and includes all
4.1 million C shares which the AGM 2024 resolved to issue to
Investor AB for this program. Investor AB have today
subscribed for all 4.1 million C shares and informed Ericsson
that they intend to accept the acquisition offer.
Once all 4.1 million C shares have been acquired by Ericsson,
the Board intends to convert them to B shares. After the
conversion, the total number of shares in Ericsson will amount to
3,348,251,735, of which 261,755,983 are A shares and 3,086,495,752
are B shares. Ericsson currently holds 12,184,543 B shares as treasury stock.
NOTES TO EDITORS:
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ABOUT ERICSSON:
Ericsson enables communications service providers and enterprises
to capture the full value of connectivity. The company's portfolio
spans the following business areas: Networks, Cloud Software and
Services, Enterprise Wireless Solutions and Global Communications
Platform. It is designed to help our customers go digital, increase
efficiency and find new revenue streams. Ericsson's innovation
investments have delivered the benefits of mobility and mobile
broadband to billions of people globally. Ericsson stock is listed
on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com
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Ericsson resolves on an
acquisition offer for C shares for LTV I 2023
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