Ericsson resolves on an offer for C shares for LTV 2009
In accordance with the resolution by the Annual General Meeting 2009, Ericsson (NASDAQ:ERIC) expands its treasury stock in order to provide shares for the Long-Term Variable Compensation Program (LTV) 2009 for employees in Ericsson.
The Board of Directors of Ericsson has resolved, by virtue of an authorization given by the Annual General Meeting on April 22, 2009, to direct an offer to all holders of C shares to acquire these shares. Acquisition shall be made during the period 11 - 22 May, 2009. Payment for acquired shares shall be made in cash with SEK 5.0024 per share.
The offer is part of the financing of Ericsson's Long-Term Variable Compensation Program 2009 and includes all 27 000 000 C shares which Ericsson has previously decided to issue to AB Industrivärden and Investor AB, for the program. AB Industrivärden and Investor AB have informed Ericsson that they intend to accept the offer.
Once all 27 000 000 C shares have been acquired by Ericsson, the Board intends to convert them to B shares. After the conversion, the number of B shares in issue will amount to 3 011 595 752. Ericsson currently holds 58 774 656 shares as treasury stock.
Notes to editors:
Ericsson's multimedia content is available at the broadcast room: www.ericsson.com/broadcast_room
Once all 27 000 000 C shares have been acquired by Ericsson, the Board intends to convert them to B shares. After the conversion, the number of B shares in issue will amount to 3 011 595 752. Ericsson currently holds 58 774 656 shares as treasury stock.
Notes to editors:
Ericsson's multimedia content is available at the broadcast room: www.ericsson.com/broadcast_room
Ericsson is the world's leading provider of technology and services to telecom operators. The market leader in 2G and 3G mobile technologies, Ericsson supplies communications services and manages networks that serve more than 250 million subscribers. The company's portfolio comprises mobile and fixed network infrastructure, and broadband and multimedia solutions for operators, enterprises and developers. The Sony Ericsson joint venture provides consumers with feature-rich personal mobile devices.
Ericsson is advancing its vision of 'communication for all' through innovation, technology, and sustainable business solutions. Working in 175 countries, more than 70,000 employees generated revenue of USD 27 billion (SEK 209 billion) in 2008. Founded in 1876 and headquartered in Stockholm, Sweden, Ericsson is listed on NASDAQ OMX Stockholm and NASDAQ.
For more information, visit www.ericsson.com or www.ericsson.mobi.
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