Trelleborg to participate in new preference issue and to spin off Boliden holding to shareholders
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 Sweden. 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. www.trelleborg.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/01/25/19990125BIT00380/bit0001.doc http://www.bit.se/bitonline/1999/01/25/19990125BIT00380/bit0002.pdf