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 Group AB (publ) has today resolved to issue 46,510 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 to secure the company’s obligations under its share-related incentive program LTIP 2020.
The Board of Directors resolutions were made by virtue of authorisations by the annual general meeting of the company on 5 May 2020. 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 716.
The company will hold all 46,510 shares of series C solely to secure the company's obligations under the share-related incentive program LTIP 2020. The shares of series C entitle to one tenth of a vote each, but are not entitled to dividend. The shares of series C will be converted into ordinary shares in accordance with conversion clause in the articles of association prior to transfer to entitled participants in LTIP 2020. If all employees participating in the program receive full allotment the 46,510 new shares will lead to a dilution of less than 0.1 percent.
The company already holds 378,837 shares of series C to secure the company's obligations under the share-related incentive program LTIP 2019. For more information about the incentive programs, see the company's website www.karnovgroup.com.
For more information, please contact:
Erik Berggren, Investor Relations Specialist
+45 52 19 65 52
erik.berggren@karnovgroup.com
This information was submitted for publication at 08.00 CET on 18 November 2020.
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, Notisum, Legal Cross Border, Forlaget Andersen and LEXNordics, 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.
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