The Board of Directors resolutions were made by virtue of authorisations by the annual general meeting of the company on 5 May 2020. The shares of series C were subscribed and paid for, and immediately repurchased from, Nordea Bank Abp. Both the subscription price and the repurchase price corresponded to an amount equal to the quotient value of the shares (i.e., approximately SEK 0.0154 per share). Through the issue of the shares of series C, the company’s share capital increases by approximately SEK 716.
The company will hold all 46,510 shares of series C solely to secure the company’s obligations under the share-related incentive program LTIP 2020. The shares of series C entitle to one tenth of a vote each, but are not entitled to dividend. The shares of series C will be converted into ordinary shares in accordance with conversion clause in the articles of association prior to transfer to entitled participants in LTIP 2020. If all employees participating in the program receive full allotment the 46,510 new shares will lead to a dilution of less than 0.1 percent.
The company already holds 378,837 shares of series C to secure the company’s obligations under the share-related incentive program LTIP 2019. For more information about the incentive programs, see the company’s website www.karnovgroup.com.
This information was submitted for publication at 08.00 CET on 18 November 2020.