Kinnevik's Board of Directors proposes SEK 5 billion extraordinary cash distribution to shareholders
Investment AB Kinnevik (publ) ("Kinnevik") today announced that its Board of Directors has resolved to propose an extraordinary cash distribution of SEK 18 per share to the Annual General Meeting to be held on 23 May 2016, equivalent to approximately SEK 5bn in aggregate, to be executed through a mandatory share redemption program.
Following the significant and successful exits of the last six months, the Kinnevik Board of Directors has evaluated its capital structure and concluded to recommend the Annual General Meeting to resolve upon an extraordinary cash distribution of SEK 18 per share to Kinnevik's shareholders, equivalent to approximately SEK 5bn in aggregate, by way of a mandatory share redemption program. The recommendation does not change Kinnevik's financial targets on capital structure and dividend policy.
Combined with the recommended ordinary dividend of SEK 7.75 per share, shareholders will receive SEK 25.75 per share and the total combined distribution amount will amount to approximately SEK 7.1bn.
Further details on the share redemption program are available under items 22(a)-(c) in the Notice convening Kinnevik's Annual General Meeting. An information brochure regarding the share redemption program will be held available at Kinnevik's website, www.kinnevik.com, from 9 May 2016.
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 08.30 CET on 19 April 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
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Source: Kinnevik via Globenewswire