Beijer Electronics Group AB issues class C shares
The Board of Beijer Electronics Group AB has decided to issue class C shares and to exercise its repurchase authorisation to secure Beijer Electronics Group’s obligations under the LTI 2021/2024 incentive programme.
The 2021 Annual General Meeting of Beijer Electronics Group AB decided, with the aim of ensuring that the company can fulfil its obligations under the long-term incentive programme LTI 2021/2024 as voted for by the Annual General Meeting, to authorise the Board to decide on a directed issue of redeemable and convertible class C shares. Furthermore, the 2021 Annual General Meeting decided to authorise the Board to decide on the repurchase of all issued class C shares via a directed acquisition offer to all holders of class C shares.
Based on the estimated outcome of the LTI 2021/2024 incentive programme, the Board has now decided to exercise these authorisations by issuing 99,750 class C shares to a financial institution, and then immediately repurchasing all class C shares. The issue will be carried out at the shares’ quota value of approximately SEK 0.33 per share and the shares will be repurchased for a corresponding amount. The intent is to issue and repurchase the class C shares in April 2022.
The company currently holds 183,614 of its own class C shares. Following the repurchase of class C shares as outlined above, the number of class C shares held by the company will amount to 283,364. The class C shares do not entail an entitlement to receive any dividend.
On completed delivery of shares under the LTI 2021/2024 to employees in 2024, the intention is to convert the repurchased class C shares into ordinary shares, as per the terms of the incentive programme.
For more information please contact:
President and CEO, Jenny Sjödahl, tel +46 (0)16 42 80 00, mobile +46 (0)725 89 60 80
Executive VP and CFO Joakim Laurén, tel +46 (0)40 35 84 96, mobile +46 (0)703 35 84 96
Beijer Electronics Group AB is a growing powerhouse of innovators within mission-critical industrial digital technology and IIoT. With a strong focus on the connection between people, technology and data, we share a pride in having some of the world's leading global companies as our core customers. Since its start-up in 1981, BEIJER GROUP has evolved into a multinational group of complementary business entities with sales over 1.6 billion SEK in 2021.
The company is listed on Nasdaq Stockholm Main Market's Mid Cap-list under the ticker BELE. www.beijergroup.com