SOLNA, Sweden--(BUSINESS WIRE)--Regulatory News:
NCC (STO:NCCA) (STO:NCCB)
On April 12, 2016, the Annual General Meeting of NCC AB (publ) resolved in accordance with the Board of Directors’ proposal to distribute all shares of Bonava AB (publ) (former NCC Housing) to the shareholders of NCC and authorized the Board of Directors to set the record date for the distribution. The Board of Directors of NCC set the record date for the distribution of NCC’s shares in Bonava to June 7, 2016.
The shares of Bonava will be distributed to NCC’s shareholders in proportion (1:1) to each individual shareholder’s shareholding in NCC on the record date for distribution, whereby shareholders for each share of series A in NCC will receive one share of series A in Bonava and for each share of series B in NCC will receive one share of series B in Bonava. Apart from being registered as a shareholder of NCC on the record date for distribution, no further actions are required to receive shares in Bonava.
The last day for trading in shares of NCC, including the right to receive shares in Bonava, is June 2, 2016. As Bonava no longer will be part of the valuation of NCC, the price of the NCC share will be adjusted from and including June 3, 2016.
Nasdaq Stockholm’s Listing Committee has resolved to admit Bonava’s shares of series A and shares of series B to trading on Nasdaq Stockholm subject to the fulfilment of certain conditions, including inter alia the execution of the conversion of shares as described below.
The first day of trading is expected to be June 9, 2016. Bonava’s shares of series A will be traded under the ticker BONA A with the ISIN code SE0008091573 and shares of series B will be traded under the ticker BONA B with the ISIN code SE0008091581.
NCC’s principal owner Nordstjernan Aktiebolag has, in connection with the resolution above, requested that 9,000,000 shares of series A in NCC, held by Nordstjernan, are converted to shares of series B. After such conversion, Nordstjernan’s share of votes in NCC is expected to amount to 49.4 per cent.
The prospectus for admission of trading of Bonava’s shares is expected to be published on May 24, 2016. The prospectus will be available on NCC’s website (www.ncc.se/en) and Bonava’s website (www.bonava.com).
June 2, 2016. Last day for trading in shares of NCC, including the right to receive shares in Bonava
June 3, 2016. First day for trading in shares of NCC, excluding the right to receive shares in Bonava
June 7, 2016. Record date for the distribution of shares in Bonava
June 9, 2016. Expected first day of trading in shares of Bonava on Nasdaq Stockholm
The financial adviser in connection with the distribution and listing of Bonava on Nasdaq Stockholm is Handelsbanken Capital Markets. Advokatfirman Cederquist is the legal adviser.
This is the type of information that NCC could be obligated to disclose pursuant to the Securities Market Act. The information was issued for publication on May 19, at 8:00 a.m. (CET).
About NCC. Our vision is to renew our industry and provide superior sustainable solutions. NCC is one of the leading construction, property development and infrastructure companies in Northern Europe, with sales of SEK 62 billion and 18,000 employees in 2015. The NCC share is listed on Nasdaq Stockholm.
This information was brought to you by Cision http://news.cision.com