STOCKHOLM, Sweden, Dec. 08, 2005 (PRIMEZONE) -- A three-year Share Incentive Program was decided at Skanska's Annual Shareholders' Meeting on April 7, 2005. On the condition that certain financial and qualitative goals are achieved, employees covered by the program can receive Series B shares in the Company. Any allotment of B shares in accordance with the program will be made not earlier than in 2009, 2010 and 2011.
To ensure the supply of Series B shares to employees in accordance with Skanska's Share Incentive Program, the Board of Skanska has decided, on the authority granted by the 2005 Annual Shareholders' Meeting, to increase the Company's share capital by SEK 13,500,000 through the issue of 4,500,000 new Series D shares at a subscription price corresponding to a par value of SEK 3 per share. The shares shall be subscribed by Nordinvest AB, a wholly-owned subsidiary of AB Industrivarden (publ), not later than January 10, 2006.
In addition, the Board has decided to direct a repurchase offer to all holders of the total 4,500,000 Series D shares. The purchase is to take place not later than January 24, 2006 at a price of SEK 3.002 per share, corresponding to a total of SEK 13,509,000. The purpose of the repurchase is to convert Series D shares as needed to Series B shares to ensure the supply of shares in accordance with the Share Incentive Program and to cover the administrative costs, social security contributions and comparable taxes that may arise through the program. Nordinvest AB has announced its intention to accept the repurchase offer. Skanska currently holds no treasury shares.
For further information please contact:
Anders Lilja, Senior Vice President, Investor Relations, Skanska AB, tel +46 8 753 88 01
Skanska is one of the world's leading construction groups with expertise in construction, development of commercial and residential projects and public-private partnerships. The Group currently has 54,000 employees in selected home markets in Europe, in the US and Latin America. Sales in 2004 totaled SEK 121 billion, USD 17 billion.
This and previous releases can also be found at www.skanska.com
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