Issue and repurchase of shares of series C for securing Karnov Group’s obligations under its share-related incentive program
The Board of Directors of Karnov AB (publ) has today resolved to issue 378,837 shares of series C and to immediately repurchase all such shares of series C. The issue and repurchase of shares of series C are carried out in order to secure the company’s obligations under its share-related incentive program LTIP 2019 for employees.
The Board of Directors resolutions were made by virtue of the authorisations by the extraordinary general meeting of the company on 10 April 2019. The shares of series C were subscribed and paid for, and immediately repurchased from, Nordea Bank Abp. Both the subscription price and the repurchase price corresponded to an amount equal to the quotient value of the shares (i.e., approximately SEK 0.0154 per share). Through the issue of the shares of series C, the company’s share capital increases by approximately SEK 5,828.
The company will hold all 378,837 shares of series C, which can be converted in 2022 into ordinary shares and transferred to the 151 employees who are participating in the incentive program in accordance with its terms and conditions. If all employees participating in the program receive full allotment the 378,837 new shares will lead to a dilution of 0.4 percent.
For more information about the incentive program, see the company’s website https://www.karnovgroup.com/en/incentive-program/.
For more information, please contact:
Mats Ödman, Head of IR
+46 70 832 09 33
mats.odman@karnovgroup.com
This information was submitted for publication on 2 April 2020, at 8.30 p.m. CET.
Karnov Group is a leading provider of mission critical information in the areas of legal, tax and accounting, and environmental, health and safety in Denmark and Sweden. With brands such as Karnov, Norstedts Juridik, VJS, Notisum, Change Board Member, and Forlaget Andersen, Karnov Group delivers knowledge and insights, enabling more than 60,000 users to make better decisions, faster – every day. With offices in Copenhagen, Stockholm, and Malmö, Karnov Group employs around 240 people. Net sales in 2019 amounted to SEK 757 M. The Karnov share is listed on Nasdaq Stockholm, Mid Cap segment under the ticker “KAR”. For more information, please visit www.karnovgroup.com.