Kinnevik: Temporary increase in the number of shares and votes in Kinnevik
Investment AB Kinnevik (publ) ("Kinnevik") today announced that as of 31 May 2016 the total number of shares in the company amounts to 555,536,380, divided into 84,738,624 class A shares with ten votes each and 470,797,756 class B shares with one vote each, of which 5,304,910 are held in treasury. The total number of votes in the company amounts to 1,318,183,996.
On 23 May 2016 the Annual General Meeting of Kinnevik resolved on a share redemption program. The share redemption program involves a share split whereby each existing share in the company is split into two shares. As a result of the share split, the number of shares in Kinnevik has increased by 277,768,190 shares during the end of May.
The 277,768,190 new shares are redemption shares which will be redeemed as part of the share redemption program. Thereafter the number of shares in Kinnevik will amount to 277,768,190, the same number of shares as prior to the share split.
The Annual General Meeting further resolved (i) on a reduction of the share capital by way of cancellation of 2,301,552 class B shares repurchased under Kinnevik's share repurchase program carried out between 15 February 2016 and 23 March 2016, (ii) to authorize the Board to resolve on a new issue of class C shares to ensure delivery of shares to participants in Kinnevik's long-term incentive plan 2016, and (iii) to offer holders of class A shares to reclassify their class A shares into class B shares. These resolutions will be effectuated after the share redemption program has been completed.
The information is of such character, which Kinnevik shall disclose in accordance with the law on Trading with Financial Instruments (1991:980) and/or the Securities Market Act (2007:528). The information was distributed for disclosure at 08.00 CET on 31 May 2016.
For further information, visit www.kinnevik.com or contact:
|Torun Litzén, Director Investor Relations
| Phone +46 (0)8 562 000 83
Mobile +46 (0)70 762 00 83
Kinnevik is an entrepreneurial investment group focused on building digital consumer businesses. We work in partnership with talented founders and managers to create, invest in and lead fast growing digital businesses both in developed and developing countries. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik's shares are listed on Nasdaq Stockholm's list for large cap companies under the ticker codes KINV A and KINV B.Press release
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Kinnevik via Globenewswire