Ependion AB issues class C shares
The Board of Directors of Ependion AB has decided to issue class C shares and to exercise its repurchase authorisation to secure Ependion AB’s obligations under the LTI 2023/2026 incentive programme.
The 2023 Annual General Meeting of Ependion AB decided, with the aim of ensuring that the company can fulfil its obligations under the long-term incentive programme LTI 2023/2026 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 2023 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 2023/2026 incentive programme, the Board has now decided to exercise these authorisations by issuing 102,918 class C shares to Danske Bank A/S, Danmark, Filial Sverige and to, conditional upon subscription and payment from Danske Bank A/S, Danmark, Filial Sverige, repurchase all issued series 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 2024.
The company currently holds 300,080 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 402,998. The class C shares do not entail an entitlement to receive any dividend.
On completed delivery of shares under the LTI 2023/2026 to employees in 2026, 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
EVP and CFO Joakim Laurén, tel +46 (0)703 35 84 96
Ependion AB is an expansive global technology group delivering digital solutions for secure control, management, visualization and data communication for industrial applications in environments where reliability and high quality are critical factors. The Group’s customers include some of the world’s leading companies. Ependion consists of independent business entities with sales of some SEK 2.5 billion in 2023 and more than a thousand employees. The company is listed on Nasdaq Stockholm Main Market’s Mid Cap-list under the ticker EPEN. ependion.com