Decision on employee convertibles
At the Extraordinary General Meeting of Securitas AB (publ) today it was decided, in accordance with the Board`s proposal, to issue a convertible debenture loan to the employees in the Securitas Group.
The loan amounts to a maximum of SEK 700,000,000 and the term of the loan shall be between 24th April, 1998 and 28th February, 2003. The loan will bear an annual interest corresponding to 12-month STIBOR less 0.25 per cent. The conversion is to be made at a conversion price corresponding to 137 percent of the average share price of the Securitas share of Series B during the period of 19th January 1998 - 13th February, 1998, both inclusive. Conversion shall be effected to new Series B shares between 30th May, 2001 and 31st January, 2003.
Assuming full conversion, approximately 2.3 million shares are expected to be added to the existing number of shares, which would result in a dilution of approximately 3.1 percent of the number of shares and approximately 2.0 percent of the number of votes.
Further information can be obtained from Mr. Håkan Winberg, Executive Vice President and Chief Financial Officer and Mrs. Camilla Weiner, Investor Relations Manager, telephone +46-8-657 74 00.