Trelleborg's holding in Boliden
Trelleborg to participate in new preference issue and to spin off Boliden
holding to shareholders
As a result of Boliden Ltd's decision to implement an issue of preference
shares, the Trelleborg AB Board has decided to subscribe for its part of the
issue (corresponding to a sum not exceeding CAD 96.5 M). The primary use of
the issue is to finance the current expansion of the Rönnskär smelter in
Preference shares do not carry voting rights, but carry the right to
conversion. The Trelleborg Group's participation in the issue is conditional
upon its acceptance of the conversion conditions and the annual yield on
preference shares. It is Boliden Ltd's intention to publish these conditions
in connection with the submission of a prospectus, which is expected to occur
within a week or so.
As a decisive step in the Trelleborg Group's concentration of operations to
its core business within the Industrial and Distribution sectors, which has
been in progress for some years, the Trelleborg AB Board has also decided to
propose that the Annual General Meeting vote to spin off the whole of the
existing holding in Boliden AB (approximately 42.9%) to Trelleborg AB's
shareholders. The spin-off will not include the preference shares, which
Trelleborg has undertaken to hold until further notice.
During the day, Boliden Ltd also announced its decision to list the Boliden
share separately on the Stockholm Stock Exchange. It is Boliden's intention to
implement this separate listing before the record date for Trelleborg's
proposed spin-off of its Boliden holding.
For further information please contact, Leif Öberg, Senior Vice President
Corporate Communications & Investor Relations, tel +46 410 67039 (mobile +46
708 540 540) or the Corporate Communications Dept., tel +46 410 67000.
Please visit http://www.bit.se for further information
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