Ericsson resolves on an acquisition offer for C shares for LTV 2016
April 28 2016 - 2:30AM
In accordance with the resolution by the Annual
General Meeting 2016, Ericsson (NASDAQ:ERIC) expands its treasury
stock in order to provide shares for the Long-Term Variable
Compensation Program (LTV) 2016 for employees in Ericsson.
The Board of Directors of Ericsson has resolved,
by virtue of an authorization given by the Annual General Meeting
on April 13, 2016, to direct an acquisition offer to all holders of
C shares to acquire these shares. Acquisition shall be made during
the period May 5 - May 20, 2016. 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 2016 and includes all
26,100,000 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 26,100,000 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
3,069,395,752. Ericsson currently holds 46,002,257 shares as
treasury stock.
NOTES TO EDITORS
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Ericsson is the driving force
behind the Networked Society - a world leader in communications
technology and services. Our long-term relationships with every
major telecom operator in the world allow people, business and
society to fulfill their potential and create a more sustainable
future.
Our services, software and
infrastructure - especially in mobility, broadband and the
cloud - are enabling the telecom industry and
other sectors to do better business, increase efficiency, improve
the user experience and capture new opportunities.
With approximately 115,000
professionals and customers in 180 countries, we combine global scale with technology and services
leadership. We support networks that connect more than 2.5 billion
subscribers. Forty percent of the world's mobile traffic is carried
over Ericsson networks. And our investments in research and
development ensure that our solutions - and our customers - stay in
front.
Founded in 1876, Ericsson has its
headquarters in Stockholm, Sweden. Net sales in 2015 were SEK 246.9 billion (USD 29.4 billion). Ericsson is
listed on NASDAQ OMX stock exchange in Stockholm and the NASDAQ in
New York.
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FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate Communications
Phone: +46 10 719 69 92
E-mail: media.relations@ericsson.com
Ericsson Investor Relations
Phone: +46 10 719 00 00
E-mail: investor.relations@ericsson.com
Ericsson resolves on an acquisition
offer for C shares for LTV 2016
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
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information contained therein.
Source: Ericsson via Globenewswire
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