Beijer Electronics Group's Board of Directors has decided to transfer own shares
The Board of Beijer Electronics Group has resolved to execute transfer of ordinary shares to the participants in LTI 2020/2023 and to sell ordinary shares on Nasdaq Stockholm for cash flow hedging purposes relating to social security contributions arising as consequence of LTI 2020/ 2023. The transfers to the participants will take place as of May 26, 2023, while the transfers on Nasdaq Stockholm will take place during the period May 26 to September 22, 2023.
As resolved by the Annual General Meeting in 2020, Beijer Electronics Group transfers, as per May 26, 2023, 79,456 so called performance shares (ordinary shares) to the participants in the long-term incentive program resolved by the 2020 Annual General Meeting, in accordance with the terms of the program. The transfer is made without consideration.
In order to secure social security contributions in respect of LTI 2020/2023, the Annual General Meeting 2023 has authorized Beijer Electronics Group's Board of Directors to, on one or several occasions before the 2024 Annual General Meeting, decide on the transfer of own ordinary shares on Nasdaq Stockholm for cashflow hedging purposes relating to LTI 2020/2023. The board decided to transfer 24,333 ordinary shares on Nasdaq Stockholm. The sale shall take place during the period May 26 to September 22, 2023 and at a price within the current price interval for the share. However, no sales will be made during a 30-day period prior to the announcement of a financial report. The sale will be reported via Nasdaq Stockholm in accordance with current regulations.
In order to execute the above transfers, the Board has also resolved on conversion of 103,789 own class C shares into the corresponding number of ordinary shares. On the date of this press release, the total number of shares in Beijer Electronics Group amounts to 29,241,296, of which 28,837,427 ordinary shares and 403,869 class C shares. On the date of this press release, the company holds no own ordinary shares and 403,869 own class C shares, intended for ongoing incentive programs. After the ongoing conversion of class C shares into ordinary shares, the total number of ordinary shares will amount to 28,941,216 and the total number of class C shares will amount to 300,080, after which the company will hold 103,789 own ordinary shares and 300,080 own class C shares, intended for ongoing incentive programs.
