Redemption of shares 2010
Sweco has a solid financial position as a result of strong earnings and cash flows of recent years. Against this background, it is the Board of Directors’ assessment that Sweco’s financial position exceeds the level deemed appropriate for the Company’s operations and that a more effective capital structure should be achieved. The Board of Directors therefore proposed a redemption procedure that was approved by the Annual General Meeting of Sweco on 29 April 2010.
The share redemption procedure will be carried out as follows. Each Sweco share (whether of class A or class B) will be divided (through a share split) into two shares (of the same class), of which one will be designated as a redemption share. Each redemption share will then be automatically redeemed for a redemption proceed of SEK 2 in cash. However, no redemption proceed will be paid for redemption shares held by the Company. Based on conditions at 29 April 2010, when Sweco held a total of 3,064,923 treasury shares, this corresponds to a cash distribution of SEK 177.9 million to Sweco’s shareholders. Together with the dividend of SEK 2 per share resolved on by the Annual General Meeting, this means that the shareholders in Sweco will receive a total of SEK 355.7 million.
The redemption shares will be listed for trading on NASDAQ OMX Stockholm during the period from 19 May to 1 June 2010 inclusive, after which the redemption shares will be automatically redeemed. Payment of the redemption proceeds is expected to take place around 9 June 2010.