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

About Us

Concentric AB is the former Hydraulics Division of Haldex AB and from June 16 2011 a separate listed company.Concentric is one of the world’s leading pump manufacturers. Our flow dynamics gives customers advanced technology oil pumps, water pumps, fuel pumps and hydraulic systems. We aim to increase fuel economy, reduce emissions and improve engine control through our technical solutions and precision engineering. Concentric’s global manufacturing presence includes factories in Sweden, Germany, the UK, the USA, Argentina, India and China, backed by central support and development functions. This means we sell locally to our global customers. The business fuses Concentric’s strengths as a pumps maker with longstanding expertise in hydraulic products. Our customers make trucks, construction equipment, agricultural machinery and general industrial applications.


Documents & Links