MTG carries out new issue and repurchase of class C shares to enable delivery of shares for LTIP 2021
STOCKHOLM, March 24 2021 – The board of directors of Modern Times Group MTG AB (publ) has today resolved to issue 130,000 class C shares and to immediately repurchase all such class C shares. The issuance and repurchase of the class C shares are carried out in order to enable the delivery of class B shares to the participants in the share-related long-term incentive program (LTIP 2021) that the extraordinary general meeting on 21 January 2021 resolved to implement.
The board of directors' resolutions were made based on the authorisations resolved upon by the extraordinary general meeting on 21 January 2021. The class C shares where subscribed and paid for, and immediately repurchased from, Nordea Bank Abp. Both the subscription price and the repurchase price of the class C shares corresponded to an amount equal to the quota value of the shares (i.e. SEK 5.0 per share). As a result of the issuance of the class C shares, the company's share capital increases by SEK 650,000.
The company will hold all 130,000 class C shares in treasury during the vesting period of LTIP 2021. In connection with a potential allotment of class B shares to the participants in LTIP 2021, class C shares will be converted into class B shares and transferred to the participants in accordance with the extraordinary general meeting's resolution and the terms and conditions for LTIP 2021.
For more information about LTIP 2021, please see the company's website www.mtg.com.
The information was submitted for publication, through the agency of the contact person set out below, at 17.15 CEST on 29 March 2021.
For more information:
Lars Torstensson, CFO
Direct: +46 (0) 702 734 879, firstname.lastname@example.org
Oliver Carrà, PR Director
Direkt: +46 (0) 70 464 44 44, email@example.com
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MTG (www.mtg.com) is a strategic and operational investment holding company in esports and gaming entertainment. Born in Sweden, the shares are listed on Nasdaq Stockholm (‘MTG A’ and ‘MTG B’).