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.
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