STOCKHOLM, Sweden, Dec. 08, 2005 (PRIMEZONE) -- Industrivarden plans to subscribe for shares in a directed new issue by Skanska and thereafter to re-sell the subscribed shares to Skanska and thereby contribute to the implementation of Skanska's share incentive program for senior executives. This involvement is a natural part of Industrivarden's work as an active owner in supporting its portfolio companies in strategic matters.
To ensure the delivery of Class B shares to employees within the framework of Skanska's long-term share incentive program, Skanska's board today decided, with the support of a mandate issued by Skanska's Annual Shareholders' Meeting on April 7, 2005, to increase Skanska's share capital by SEK 13,500,000 through a new issue of 4,500,000 Class D shares at a subscription price corresponding to a par value of SEK 3 per share.
The shares will be subscribed by AB Industrivardens wholly-owned subsidiary Nordinvest AB by January 10, 2006, at the latest.
Further, Skanska's board has decided to direct a repurchase offer to all owners of Class D shares, covering all 4,500,000 Class D shares. The purchase will be made by January 24, 2006, at the latest, at a price of SEK 3.002 per share, or a total of SEK 13,509,000. The purpose of the repurchase is to convert Class D shares to Class B shares, as needed, for delivery in accordance with the share incentive program.
Industrivarden today owns 15,000,000 Class A shares and 17,300,000 Class B shares in Skanska, corresponding to 7.7% of the share capital and 26.9% of the votes. Through the new issue, Industrivarden's ownership will increase to 8.7% of the capital, while its share of the votes will be unchanged. Assuming all else unchanged, once Skanska has repurchased all newly issued shares, Industrivarden's ownership will amount to 7.6% of the capital and 26.9% of the votes.
Stockholm, December 8, 2005
AB INDUSTRIVARDEN (publ)
For further information, please contact: Carl-Olof By, Executive Vice President and Chief Financial Officer, Industrivarden, tel. +46-8-666 64 00.
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