Special General Meeting approves cancellation of repurchased shares and new program to repurchase own shares
Press Release Trelleborg, June 27, 2000 Special General Meeting approves cancellation of repurchased shares and new program to repurchase own shares At today's Special General Meeting of Trelleborg AB shareholders, the decision was made to reduce the Company's share capital by SEK 293,353,800 through the cancellation of the Trelleborg shares repurchased by the Company (11,734,152 shares, corresponding to 10 percent of the total number of shares outstanding) and to effect a SEK 775,000,000 reduction in the Company's statutory reserve. Trelleborg estimates that registration of the decision regarding the permit required for the reduction will be received during the fourth quarter of 2000. In accordance with the Board's proposal, the Special General Meeting also authorized the Board to repurchase a further 10 percent of the outstanding shares in the Company during the period up to the next Annual General Meeting, when the reduction in share capital has been completed. The authorization also extends to the Board having the right to decide on the sale of the Company's own shares in connection with acquisitions of companies or operations. In response to a question at the Meeting, Chairman of the Dunker Funds and Foundation, Bertil Bertilsson, reported that Dunker´s aim was to reclassify the A shares at an appropriate time, so that Dunker Funds and Foundation's share of the voting power returns to the level prevailing at the time of the 2000 Annual General Meeting. For further information please contact Mikael Byström, Senior Vice President Corporate Communications Department, phone +46 410 670 37 (Mobile +46 708 55 21 69), or the Corporate Communication Department, phone +46 410 670 00. www.trelleborg.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/06/27/20000627BIT01050/bit0001.doc http://www.bit.se/bitonline/2000/06/27/20000627BIT01050/bit0002.pdf