– Decision on a redemption programme of SEK 575M
– Repurchase of treasury shares
The Extraordinary General Meeting (EGM) of Bure Equity AB (publ) held on 3 September 2007 dealt with the following items:
Share option programme in the subsidiary Länia Material AB
The EGM approved a share option programme in Länia Material AB. The programme refers to share options in Länia Material AB, which company in turn owns Textilia Tvätt & Textilservice AB and Textilia Rimbo AB. The number of options offered corresponds to 9.9 per cent of Bure's holding (99 options) and are offered to the Managing Director of the Textilia Group. The options have a term of 5 years and may be exercised to purchase shares during the period 1 – 30 September 2012 or such earlier date when the company's shares are listed or transferred to another party. The exercise price at the expiry date will be SEK 29,387 per share. The estimated fair market value of each share option, SEK 2,042, is based on a valuation performed by Öhrlings PricewaterhouseCoopers AB.
Reduction of the company's share capital through a redemption of shares (optional redemption programme)
The EGM authorised the Board to implement an optional redemption programme amounting to no more than SEK 574,688,304. The final size of the redemption programme is depending on to which extent the company's shareholders will accept the offer.
The redemption programme will be carried out through an offer to the shareholders, which will have reached the shareholders in the beginning of September 2007. For each share in Bure the holder will receive one redemption right and 10 redemption rights are required for one share in Bure. The redemption amount for each share will be SEK 54. The final application date for redemption will be 12 October and payment is expected to be made on 2 November 2007.
As a consequence of the redemption programme the EGM decided to authorise the Board to increase the company’s share capital through a bonus issue of SEK 83,000,000 through the transfer of SEK 83,000,000 from non-restricted equity. No new shares shall be issued in connection with the increase in share capital.
Repurchase of treasury shares
The EGM authorised the Board to acquire the company’s treasury shares during the period until the next Annual General Meeting. After the buy-back, Bure may hold a maximum of 10 per cent of all issued shares in the company.
Göteborg, 3 September 2007
Bure Equity AB (publ)