Issue and repurchase of series C shares for performance-based share program
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Small Cap Stockholm |
| Sektor | Handel & varor |
| Industri | Sällanköpsvaror |
Pursuant to the authorization granted by the annual general meeting on 16 May 2023, the board of directors of Pierce Group AB (publ) ("Pierce") has resolved to issue and immediately thereafter repurchase 950,000 series C shares. The shares are issued and repurchased in accordance with the performance-based share program LTI 2023, which was adopted by the annual general meeting on 16 May 2023.
Pursuant to the authorization granted by the annual general meeting on 16 May 2023, the board of directors of Pierce has resolved on a directed issue of 950,000 series C shares to Nordic Issuing AB. The subscription price per share amounts to approximately SEK 0.02, which corresponds to the quota value of the shares. Furthermore, the board of directors has resolved to immediately repurchase all 950,000 series C shares from Nordic Issuing AB at a price corresponding to the subscription price.
The purpose of the issue and the repurchase of series C shares is to ensure the delivery of performance shares to senior executives and key employees of Pierce who are participating in LTI 2023 (when the series C shares have been converted to ordinary shares). Allotment of performance shares in LTI 2023 shall take place within 30 days after 16 May 2026.
Pierce has not previously held any series C shares. The series C shares carry one-tenth of a vote per share and do not entitle the holder to dividends.