STOCKHOLM, SWEDEN -- (Marketwire) -- 05/18/12 -- In accordance with the resolution by the Annual General Meeting 2012, Ericsson (NASDAQ: ERIC) expands its treasury stock in order to provide shares for the Long-Term Variable Remuneration Program (LTV) 2012 for employees in Ericsson.
The Board of Directors of Ericsson has resolved, by virtue of an authorization given by the Annual General Meeting on May 3, 2012, to direct an acquisition offer to all holders of C shares to acquire these shares. Acquisition shall be made during the period May 25 - June 13, 2012. Payment for acquired shares shall be made in cash with SEK 5.0052 per share.
The offer is part of the financing of Ericsson's Long-Term Variable Remuneration Program 2012 and includes all 31 700 000 C shares which Ericsson has previously decided to issue to AB Industrivärden and Investor AB, for the program. AB Industrivärden and Investor AB have informed Ericsson that they intend to accept the offer.
Once all 31 700 000 C shares have been acquired by Ericsson, the Board intends to convert them to B shares. After the conversion, the number of B shares in issue will amount to 3 043 295 752. Ericsson currently holds 58 338 548 shares as treasury stock.
NOTES TO EDITORS
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Ericsson is the world's leading provider of communications technology and services. We are enabling the Networked Society with efficient real-time solutions that allow us all to study, work and live our lives more freely, in sustainable societies around the world.
Our offering comprises services, software and infrastructure within Information and Communications Technology for telecom operators and other industries. Today more than 40 percent of the world's mobile traffic goes through Ericsson networks and we support customers' networks servicing more than 2 billion subscribers.
We operate in 180 countries and employ more than 100,000 people. Founded in 1876, Ericsson is headquartered in Stockholm, Sweden. In 2011 the company had revenues of SEK 226,9 billion (USD 35.0 billion). Ericsson is listed on NASDAQ OMX, Stockholm and NASDAQ, New York stock exchanges.
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Ericsson resolves on an acquisition offer for C shares for LTV 2012: http://hugin.info/1061/R/1613037/513619.pdf
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Source: Ericsson via Thomson Reuters ONE [HUG#1613037]