Peab Industri cancels issuing of convertibles 2008/2012
The Annual General Meeting of Peab Industri 15 May 2008 approved the Boards proposal to on 1 December 2008 issue 800,000 convertibles at the most (Peab Industri Convertibles 2008/2012) to new employees in Peab Industri. According to the decision of the Annual General Meeting the Conversion Price and interest would be based on market conditions during the autumn of 2008, and the offering to participate should have been given to the staff in November 2008.
Taking in to account the current financial turmoil and change of market conditions as well as the reasonable assumption that the offering to the staff is no longer in the interest of the shareholders the Board has decided to cancel the programme to issue Peab Industri convertibles 2008/2012.
Peab Industri intends to resume the matter to issue convertibles to new employees at the coming Annual General Meeting.
For additional information, please contact:
Niclas Winkvist, CFO Peab Industri + 46 431 44 96 00
Staffan Bremander, Corp Comm. Mgr. Peab Industri +46 733 37 11 10
Peab Industri discloses the information provided herein pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 8.45 am on 13 October.
Previous press releases from Peab Industri are available at www.peabindustri.com.