Special General Meeting of shareholders in Trelleborg approves synthetic buy-back of maximum 20 million own shares
Special General Meeting of shareholders in Trelleborg approves synthetic buy-back of maximum 20 million own shares At today's Special General Meeting of Trelleborg AB's shareholders, the Board was authorized to carry out a synthetic buy-back of its own shares by entering into a swap agreement with a bank, on one or several occasions prior to December 31, 2001, whereby the Company exchanges its return on interest-bearing funds for the return on Trelleborg's B share. The swap agreements shall relate to an underlying number of shares totaling no more than 20 million. Prior to December 31, 2001, at the latest, the Trelleborg Board shall inform a meeting of shareholders of its proposal to reduce share capital through the redemption of as many B shares as is necessary to correspond to the amount of underlying shares in implemented swap agreements. The reduction shall be implemented at a redemption price that is lower than the market value of the Trelleborg B share. The objective shall be to redeem the underlying shares. As a result of Trelleborg's buy-back of its own B-shares, the Dunker Funds and Foundations' voting rights will increase to a level that will not be known until the synthetic buy-back program has been implemented. This is expected to be finalized during second half of 2001. After that the Dunker Funds and Foundations will, as announced earlier, at an appropriate point in time and in an appropriate manner, return to the percentage of voting rights they held prior to the buy-back program, namely about 53 percent. For more information, please contact Trelleborg's CFO, Jan Björck, telephone +46-410-670 28, Trelleborg's Senior Vice President, Corporate Communications, Mikael Byström, telephone: 0708-552169, or the Trelleborg Corporate Communications Department, telephone: +46-410 670 00. To contact the Dunker Funds and Foundations' please call Rolf Kjellman, +46 42 18 33 55. Trelleborg is a global industrial group. Operations are based on spearhead competence within polymer materials and a high level of industrial know- how, with functional solutions and systems designed to meet the needs of our customers. The Group has annual sales of SEK 16.5 billion (pro forma 2000, including the acquisition of LAC), with approximately 15,500 employees in 40 countries. Trelleborg consists of four business areas: Automotive, Wheel Systems, Engineered Systems and Building Systems. The Trelleborg share has been quoted on the OM Stockholm Exchange since 1964. www.trelleborg.com ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/01/24/20010124BIT01050/bit0001.doc http://www.bit.se/bitonline/2001/01/24/20010124BIT01050/bit0002.pdf