JM's Board Proposes a Convertible Program and a Warrant Program
JM's Board of Directors has decided to propose that the 2009 Annual General Meeting resolve upon a convertible program and a warrant program.
Convertible program and warrant program in brief:
- The Board of Directors proposes that JM raise a convertible debenture loan through the issue of convertible debentures of a maximum of SEK 50 million aimed at all employees in Sweden and the issue of a maximum of 85,000 warrants aimed at all employees outside Sweden.
- Each convertible and warrant entitles the holder to conversion or subscription, respectively, to one share, at a conversion or subscription price equivalent to about 125 percent of the average price paid for shares in JM during the period from May 5, 2009, through May 13, 2009.
- Conversion or exercise may take place from June 1, 2011 through May 24, 2013.
- Through conversion of convertibles or redemption of warrants JM's share capital could increase by a maximum of SEK 625,000, which corresponds with a dilution of about 0.7 percent of share capital and votes in JM.
The Board's complete proposal will be available at JM AB's headquarters, Legal Affairs and Development, Telegrafgatan 4, Solna and on JM's website www.jm.se, as of March 30, 2009.