Telefonaktiebolaget Lm Ericsson Ericsson resolves acquisition offer for C shares (1627Y)
02 Maggio 2023 - 4:42PM
UK Regulatory
TIDM61QS
RNS Number : 1627Y
Telefonaktiebolaget Lm Ericsson
02 May 2023
Ericsson resolves on an acquisition offer for C shares for LTV
II 2023, LTV 2022 and LTV 2021
In accordance with the resolutions by the Annual General Meeting
2023, Ericsson (NASDAQ:ERIC) expands its treasury stock in order to
provide shares for the Long-Term Variable Compensation Programs LTV
II 2023, LTV 2022 and LTV 2021 for Ericsson's executive team and
other executives.
The Board of Directors of Ericsson has today resolved, by virtue
of authorizations given by the Annual General Meeting on March 29,
2023 (the "AGM 2023"), to direct an acquisition offer to all
holders of C shares to acquire these shares. The acquisition shall
be made during the period May 11 - May 25, 2023 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 Programs LTV II 2023, LTV 2022 and LTV 2021
and includes all 10 million C shares which the AGM 2023 resolved to
issue to Investor AB for these programs. Investor AB have today
subscribed for all 10 million C shares and informed Ericsson that
they intend to accept the acquisition offer.
Once all 10 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
3,344,151,735, of which 261,755,983 are A shares and 3,082,395,752
are B shares. Ericsson currently holds 4,009,306 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, Global
Communications Platform, and Technologies and New Businesses. 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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