Husqvarna’s Extraordinary Shareholders' Meeting approved the rights issue

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Husqvarna’s Extraordinary Shareholders' Meeting today approved the Board of Directors' resolution of February 19, 2009 on a rights issue in Husqvarna. According to the terms of the rights issue, which were set by the Board of Directors on March 4, 2009, each shareholder has a preferential right to subscribe for one new A-share or B-share, respectively, for every two existing A-shares or B-shares held (first priority preferential rights). The subscription price is SEK 16 and total proceeds from the issue shall be SEK 3,059 million.

Shares not subscribed for with first priority preferential rights will be offered for subscription to all shareholders in Husqvarna (second priority preferential rights). If it is not possible to issue all shares subscribed for under the second priority preferential rights, the shares will be distributed among the subscribers in relation to the number of shares previously held by them, and if this is not possible, by the drawing of lots.

For those shares that have not been subscribed for by virtue of first or second priority preferential rights, the allocation will, in the first instance, be made to other subscribers, which are reasonable acceptable to Husqvarna after consultation with its financial advisors, and secondly to the underwriters of the rights issue, namely Skandinaviska Enskilda Banken AB (publ), Svenska Handelsbanken AB (publ) and Nordea AB (publ), or investors procured by such underwriters, and other guarantors of the rights issue, each in relation to its underwriting or guarantee commitment. Upon over-subscription of the rights issue by other subscribers, allocation will be made in relation to the number of subscribed shares.

As a result of the rights issue Husqvarna’s share capital will increase by not more than SEK 382,413,766, of which 49,190,010 may be A-shares and 142,016,873 may be B-shares.

The record day at Euroclear Sweden AB for participation in the rights issue is March 12, 2009. The last day of trading in Husqvarna shares, including the right to participate in the rights issue, is March 9, 2009. The prospectus is expected to be distributed on or about March 12, 2009. Subscription will take place during the subscription period of March 16 – March 30, 2009.

Financial and legal advisors
SEB Enskilda, Handelsbanken Capital Markets and Nordea Corporate Finance are acting as financial advisors to Husqvarna, and Linklaters as legal advisor.

The above information has been made public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was published at 10:20 on 9 March 2009

About Us

Husqvarna Group is a global leading producer of outdoor power products and innovative solutions for forest, park and garden care. Products include chainsaws, trimmers, robotic lawn mowers and ride-on lawn mowers. The Group is also the European leader in garden watering products and a global leader in cutting equipment and diamond tools for the construction and stone industries. The Group’s products and solutions are sold under brands including Husqvarna, Gardena, McCulloch, Poulan Pro, Weed Eater, Flymo, Zenoah and Diamant Boart via dealers and retailers to consumers and professionals in more than 100 countries. Net sales in 2017 amounted to SEK 39bn and the Group has around 13,000 employees in 40 countries.

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