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 17 May 2024, the board of directors of Pierce Group AB (publ) ("Pierce") has resolved to issue and immediately thereafter repurchase 1,025,000 series C shares. The shares are issued and repurchased in accordance with the performance-based share program LTI 2024, which was adopted by the annual general meeting on 17 May 2024.
Pursuant to the authorization granted by the annual general meeting on 17 May 2024, the board of directors of Pierce has resolved on a directed issue of 1,025,000 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 1,025,000 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 delivery of performance shares to senior executives and key employees of Pierce who are participating in LTI 2024 (when the series C shares have been converted to ordinary shares). Allotment of performance shares in LTI 2024 shall take place within 30 days after 17 May 2027.
Pierce holds 950,000 series C shares since previously. The series C shares carry one-tenth of a vote per share and do not entitle to dividends.