Extraordinary General Meeting 2013 - Tele2

Our market sites

Our market sites

May 13, 2013 7:20 PM CET

Extraordinary General Meeting 2013

Stockholm - Tele2 AB (Tele2), (NASDAQ OMX Stockholm: TEL2 A and TEL2 B) today announced that the company's Extraordinary General Meeting (EGM) held today voted to support the Board of Directors' proposal regarding a long-term incentive programme.

The EGM resolved to adopt a long-term, performance-based incentive programme (the "Plan"). The Plan includes in total approximately 205 senior executives and other key employees within the Tele2 group. The participants in the Plan are in general required to hold Tele2 shares. The grant of Tele2 shares are based on that certain retention and performance conditions are achieved and that the participant maintains employment within Tele2 and the invested shares during a three year vesting period. Grant of Tele2 shares under the Plan will be made through that the company transfers own class B shares held in treasury to the participants after the vesting period. The Plan has the same structure as previous incentive programmes. However, due to the sale of Tele2 Russia, which was completed on 4 April 2013, the performance targets have been adjusted. The recalculation of the performance conditions were also the reason for not presenting the proposal at the Annual General Meeting 2013, as necessary adjustments to the Plan, resulting from the sale of Tele2 Russia, could not be completed as per the day of publishing the notice to the Annual General Meeting 2013.

The EGM also resolved to authorise the Board to resolve on a directed new issue of 1,700,000 class C shares to Nordea Bank AB and to subsequently resolve to repurchase the class C shares from Nordea Bank AB, in order to ensure delivery of shares under the Plan.

____________________

For further information, contact:

Lars Torstensson, EVP Corporate Communications, Telephone: +46 702 73 48 79
Pernilla Oldmark, Information Director, Press Inquiries, Telephone: +46 704 26 45 45

TELE2 IS ONE OF EUROPE'S LEADING TELECOM OPERATORS, ALWAYS PROVIDING CUSTOMERS WITH WHAT THEY NEED FOR LESS. Tele2 offers mobile services, fixed broadband and telephony, data network services, cable TV and content services. Ever since Jan Stenbeck founded the company in 1993, it has been a tough challenger to the former government monopolies and other established providers. Tele2 has been listed on the NASDAQ OMX Stockholm since 1996

The information is of such character, which Tele2 AB (publ) shall disclose in accordance with the Securities Market Act (2007:528) and/or the law on Trading with Financial Instruments (1991:980). The information was distributed for disclosure at 7.20 p.m. CET on 13 May 2013.

Related Material