Concentric transfer own shares to an ESOT
The annual general meeting in Concentric on 3 May 2018 resolved to transfer up to 140,000 shares to an Employee Share Ownership Trust (“ESOT”) as a part of a Joint Share Ownership Plan (“JSOP”) under LTI 2018. In accordance with the annual general meeting’s resolution and the terms of LTI 2018, the board of Concentric has on 15 May 2018 executed the transfer in regards to 95,020 shares. The shares were transferred to the ESOT free of charge. Simultaneously as the ESOT acquired the main ownership rights in the shares, the participants in the JSOP acquired a lesser beneficial ownership right in each share for the right’s market value, being SEK 3.00 per ownership right, resulting in the participants becoming co-owners of the shares. The reason for the annual general meeting’s resolution to transfer the own shares with deviation from the shareholders’ preferential rights was to enable a tax efficient delivery of shares under LTI 2018 to certain participants resident in the United Kingdom.
The total number of shares in Concentric amounts to 40,872,000, whereof 1,136,469 own shares are held by Concentric in treasury after the above transfers of own shares to the ESOT. Total number of shares transferred to ESOT during 2017-2018 amounts to 188,020.
For further information, please contact Lennart Lindell, +46 (0)766 104004