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 2022/2025 incentive programme.

The 2022 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 2022/2025 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 2022 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 2022/2025 incentive programme, the Board has now decided to exercise these authorisations by issuing 189,608 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 2023.

The company currently holds 214,261 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 403,869. The class C shares do not entail an entitlement to receive any dividend.

On completed delivery of shares under the LTI 2022/2025 to employees in 2025, 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)725 89 60 80
Executive VP and CFO Joakim Laurén, tel +46 (0)703 35 84 96

Beijer Electronics Group AB is a global technology group offering sophisticated digital solutions for industrial data communication and digital solutions for control and monitoring systems and IIoT. The Group’s customers include some of the world’s leading global companies. Since its start-up in 1981, BEIJER GROUP has evolved into a multinational group of complementary business entities with sales over 2.1 billion SEK in 2022.

The company is listed on Nasdaq Stockholm Main Market’s Mid Cap-list under the ticker BELE. www.beijergroup.com