Purchase of shares and option scheme
Repurchase of shares and option scheme In its Year End Report dated 10 February 2000 the Board of Höganäs AB announced that it intended to ask the Annual General Meeting for authorization enabling the Board to buy and sell the Company's shares in accordance with a forthcoming amendment to the Swedish Limited Companies Act. The Board has decided today to propose to the Annual General Meeting that the Board be granted authorization during the period until the next Annual General Meeting to purchase and sell shares of Class B in the Company on one or more occasions. Such purchases are to be made on the OM Stockholm Stock Exchange at the price quoted on the stock market at the time of purchase. The purpose of repurchase is to provide greater freedom of action for management of the Company's capital structure and to cover the Company's commitment in connection with the option scheme for senior executives suggested below. Besides, the repurchase gives the company a possibility to use the shares as financing of future acquisitions. Sales of the Company's own shares may be made only to finance acquisition of companies or businesses and to fulfil commitments according to the suggested option scheme. Purchases may be made subject to the limitation that the Company's holdings of its own shares do not at any time exceed 10 percent of all the shares in the Company. The Board has further decided to ask the Annual General Meeting to resolve that not more than 600 000 options to purchase be issued to senior executives of the Company. Höganäs 24 March 2000 Claes Lindqvist President and Chief Executive Officer ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/03/24/20000324BIT00600/bit0001.doc http://www.bit.se/bitonline/2000/03/24/20000324BIT00600/bit0002.pdf