Kinnevik AB (publ) ("Kinnevik") today announced that the Board has resolved, by virtue of the authorisation granted by the Annual General Meeting on 29 April 2021, on a directed issue and immediate repurchase of 264,532 Class X shares.
Nordea Bank Abp, filial i Sverige subscribed for all 264,532 Class X shares at a subscription price corresponding to the quota value of SEK 0.10 per share. All issued shares have subsequently been repurchased by Kinnevik for SEK 0.10 per share. The Board further resolved on reclassification of all newly issued Class X shares to 264,532 Class B shares in accordance with Kinnevik's Articles of Association.
The purpose of the new issue, repurchase and reclassification is that the newly issued and reclassified shares, following a resolution by Kinnevik's Annual General Meeting on 9 May 2022, shall be transferred to the participants in Kinnevik's long-term incentive plan for 2019 as compensation for paid dividends and other value transfers since 2019, in accordance with Kinnevik's Articles of Association and the terms and conditions of the incentive plan.