Beijer Electronics Group AB issues class C shares

The Board of Beijer Electronics Group AB has decided to issue class C shares and to exercise its repurchase authorisation to secure Beijer Electronics Group’s obligations under the LTI 2022/2025 incentive programme.

The 2022 Annual General Meeting of Beijer Electronics Group AB decided, with the aim of ensuring that the company can fulfil its obligations under the long-term incentive programme LTI 2022/2025 as voted for by the Annual General Meeting, to authorise the Board to decide on a directed issue of redeemable and convertible class C shares. Furthermore, the 2022 Annual General Meeting decided to authorise the Board to decide on the repurchase of all issued class C shares via a directed acquisition offer to all holders of class C shares.

Based on the estimated outcome of the LTI 2022/2025 incentive programme, the Board has now decided to exercise these authorisations by issuing 189,608 class C shares to a financial institution, and then immediately repurchasing all class C shares. The issue will be carried out at the shares’ quota value of approximately SEK 0.33 per share and the shares will be repurchased for a corresponding amount. The intent is to issue and repurchase the class C shares in April 2023.

The company currently holds 214,261 of its own class C shares. Following the repurchase of class C shares as outlined above, the number of class C shares held by the company will amount to 403,869. The class C shares do not entail an entitlement to receive any dividend.

On completed delivery of shares under the LTI 2022/2025 to employees in 2025, the intention is to convert the repurchased class C shares into ordinary shares, as per the terms of the incentive programme.