AB SKF’s Share Redemption Implemented
SEK 2,8 billion will be distributed on June 7, 2005 to SKF shareholders.
The 2005 Annual General Meeting's resolution on a share split 5:1 and a subsequent redemption of 113,837,767 shares has now been registered. As a result of the procedure, the Company's share capital was reduced by SEK 284,594,417.50 and SEK 2,845,944,175 will be distributed to the company's shareholders.
Further, the 113,837,767 shares of Series C that the Annual General Meeting decided to issue, in order to reduce the time expenditure involved in the reduction, have been redeemed at a nominal value of SEK 2.50 per share, adjusted by an interest rate factor. The reduction involves transfer of SEK 284,594,417.50 from the Company's non-restricted equity to the legal reserve.
As of June 1, 2005, AB SKF's share capital amounts to SEK 1,138,377,670 distributed on in total 455,351,068 shares.
Source: SKF Group