KISTA, Sweden--(BUSINESS WIRE)--Regulatory News:
Indutrade AB (STO:INDT)
The Annual General Meeting of Indutrade AB resolved on 28 April 2014 in accordance with the Board of Director’s proposal to implement an incentive programme, LTI 2014, comprising a maximum of 460,000 warrants, issued in two series for senior executives and other key employees within the Indutrade group. Indutrade’s wholly-owned subsidiary C & M Plast AB was entitled subscribe for the warrants, after which the subsidiary subsequently subscribed for all warrants.
In accordance with the Annual General Meeting’s resolution and a resolution by the Board of Directors on 28 May 2014, the participants acquired a total of 257,500 warrants of Series I for in aggregate SEK 3,914,000.
The Board of Directors resolved on 31 October 2014 to offer 13 additional participants to acquire no more than 80,000 warrants of Series II. The acquisition period for Series II ended on 14 November 2014 and the transfer from C & M Plast AB was completed on 24 November 2014. Under Series II of LTI 2014, participants have acquired a total of 27,500 warrants for in aggregate SEK 319,000.
Accordingly, the number of warrants of Series I and Series II acquired by the participants under LTI 2014 totals 285,000. Each warrant entitles a right to subscribe for one share in Indutrade as from the registration of the warrants up to and including Friday, 18 May 2018, during specified subscription periods. The maximum dilution amounts to 0.7 per cent of the shares and votes in Indutrade.
The acquisition price for the warrants of Series II has been determined to SEK 11.60 per warrant, corresponding to the market price. The subscription price for subscription of Indutrade shares under the warrants of Series II has subsequently to the measurement period 3 November 2014 – 14 November 2014 been set to SEK 350.00 per share.
Stockholm, 25 November 2014
Indutrade AB (publ)
Indutrade markets and sells components, systems and services with a high-tech content within selected niches. Indutrade's business is distinguished by
- high-tech products for recurring needs
- growth through a structured and tried-and tested acquisition strategy
- a decentralised organisation characterised by an entrepreneurial spirit.
The Group is organised into five business areas: Engineering & Equipment, Flow Technology, Fluids & Mechanical Solutions, Industrial Components and Special Products. Indutrade's sales totalled SEK 8,831 million in 2013, generating operating income of SEK 990 million before depreciation of intangible assets. Indutrade is listed on the Nasdaq OMX Stockholm.
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