Discussions regarding voting rights in Ericsson to continue
The Work Group, under the leadership of Ericsson's Chairman Michael Treschow, has consisted of representatives from Investor, Industrivärden, Handelsbankens Pensionsstiftelse, Pensionskassa and Personalstiftelse and Alecta, Robur Fonder and AMF Pension. The objective was to present a proposal well in advance of the 2003 annual general meetings of Ericsson, Industrivärden and Investor.
The Work Group has worked intensively on a number of alternative proposals. However, reducing the differences in voting rights and the compensation issue has raised a number of different complex issues from a legal standpoint that must be taken into further consideration. The Work Group has therefore agreed to continue their work and to investigate - together with Ericsson - what the consequences will be for the company and its shareholders.
"The Work Group has worked in a constructive spirit but has still not been able to finalize a proposal that could be presented to Ericsson's Annual General Meeting on April 8. There have been a number of advanced ideas about ways to reduce the difference in voting rights from 1/1000 to 1/10 with compensation for A-shareholders, but the issue requires further work before a proposal can be presented," commented Michael Treschow, Chairman of Ericsson's board.
Stockholm March 3, 2003
Chairman of the Board, Ericsson, Chairman of the Work Group to Investigate the Voting Rights Issue in Ericsson.
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