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JM's Board of Directors proposes convertible and warrant programs

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JM's Board of Directors has decided to propose that the 2011 annual general meeting resolve on a convertible program and a warrant program.

The convertible program and warrant program in brief:

  • The Board of Directors proposes, that JM raise a debenture loan with a maximum nominal value of SEK 120 million by issuing a maximum of 530,000 convertible debentures, aimed at all employees in Sweden and issue a maximum of 95,000 warrants aimed at all employees outside Sweden.

  • Each convertible and warrant carries the right to convert to and subscribe to one share, at a conversion or exercise price equal to 125 percent of the average price paid for the JM share during the period from May 3, 2011, through May 11, 2011.

  • Conversion or exercise of option rights may take place from June 2 , 2014 through May 22, 2015.

  • Through conversion of the convertible and exercise of warrants JM's share capital could increase by a maximum of SEK 625,000, equivalent to a dilution of about 0.75 percent of JM's share capital and votes.

The Board of Directors’ complete proposal for resolution will be available at JM AB's headquarters, Legal Affairs and Development, Gustav III:s Boulevard 64, Solna, and on the JM AB website, www.jm.se no later than April 7, 2011. 


For more information, please contact:
Claes Magnus Åkesson, CFO JM, tel/mobile: +46 (0)8-782 89 71
 Urban Lilja, General counsel JM, tel/mobile: +46 (0)8-782 87 05

JM is one of the leading developers of housing and residential areas in the Nordic region. Operations focus on new production of homes in attractive locations, with the main focus on expanding metropolitan areas and university towns in Sweden, Norway, Denmark, Finland and Belgium. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM seeks to promote long-term quality and environmental considerations in all its operations. Our annual sales total approximately SEK 9 billion and the company has about 2,100 employees. JM AB is a Swedish public limited company listed on NASDAQ OMX Stockholm, Mid Cap segment.

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