The Board of Directors of Hexagon proposes a subscription warrant programme and convenes an Extraordinary General Meeting on 14 December 2007
The Board of Directors of Hexagon AB has decided to propose that the extraordinary general meeting resolves to implement a subscription warrant programme for the group management as well as other senior executives and key employees in the group.
The proposal of the Board of Directors means in brief that the general meeting shall resolve on a directed issue of 2 500 000 subscription warrants. The warrants shall be transferred to approximately 80 senior executives and key employees identified by the Board of Directors at a price of 20 SEK per warrant and the remaining warrants shall be reserved for future recruitment of senior executives and key employees in the group.
Each subscription warrant shall entitle the holder to subscribe for one share of series B in Hexagon AB during the period from 2 July 2011 up to and including 2 January 2012. The rate at subscription for new shares by exercising the subscription warrants shall be based on a marketable valuation of the subscription warrants including the established issue rate for the subscription warrants. The proposed issue of warrants will result in a total dilution of maximum approximately 0.93 per cent in proportion to the number of shares in the company.
The reasons for the deviation from the shareholders’ preferential rights are that Hexagon wishes to offer senior executives and key employees the opportunity to participate in the increase in value of the company’s share. This is expected to increase the interest in the company’s development and to stimulate a continued company loyalty over the forthcoming years.
The Board of Directors intends to convene an extraordinary general meeting to be held at 15:00 CET on Friday 14 December 2007 at Kungliga Ingenjörsvetenskapsakademien (IVA) at Grev Turegatan 16 in Stockholm, Sweden, where the proposal for the subscription warrant programme will be presented. A notice to the extraordinary shareholders’ meeting will be issued shortly in accordance with customary routines.