Press release Tele2 Group Aug 26 2009, 4:18 PM CET
Issue and repurchase of Class C shares under incentive programme
Stockholm - Tele2 AB, ("Tele2"), (NASDAQ OMX Stockholm: TEL2 A and TEL2 B), today announced that the Board of Directors resolved to issue and immediately thereafter repurchase 850,000 new Class C shares.
By virtue of authorisation from the Annual General Meeting of shareholders on 11 May 2009, the Board of Directors has resolved to increase the share capital by SEK 1,062,500, through a private cash placement of 850,000 new Class C shares aimed at Nordea Bank AB (publ) ("Nordea"), each with a quota value of SEK 1.25, at a subscription price of SEK 1.25 per share. The Class C shares do not entitle to dividends and represent one vote each. Furthermore, the Board of Directors has resolved upon immediate repurchase of all 850,000 Class C shares from Nordea at a price corresponding to the subscription price.
The reason for the disapplication of the shareholders' preferential rights and the purpose of the issue and the repurchase is to ensure delivery of Class B shares to employees in the Group under the performance based incentive programme that was adopted at the Annual General Meeting of shareholders on 11 May 2009, by subsequently reclassifying these Class C shares into Class B shares.
Apart from what is stated above Tele2 holds 4 948 000 Class C shares.
Further information can be obtained from:
Lars Torstensson, Investor Inquiries, Tel: +46 702 73 48 79
Pernilla Oldmark, Press Inquiries, Tel: +46 704 26 45 45
Tele2 is one of Europe's leading alternative telecom operators. Tele2's mission is to provide affordable and easy connectivity for everyone at anytime. Tele2 always strives to offer the market's best prices. We have 25.4 million customers in 11 countries. 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 OMX Nordic Exchange since 1996. In 2008, we had net sales of SEK 39.5 billion and reported an operating profit (EBITDA) of SEK 8.2 billion.