In accordance with the resolution by the Annual General Meeting 2008,
Ericsson (NASDAQ:ERIC) expands its treasury stock in order to provide
shares for the Long-Term Variable Compensation Program (LTV) 2008 for
employees in Ericsson.
The Board of Directors of Ericsson has today resolved, by virtue of
an authorization given by the Annual General Meeting on April 9 2008,
to direct an offer to all holders of C shares, i.e. AB Industrivärden
and Investor AB, to acquire these shares.
The offer is part of the financing of Ericsson's Long-Term Variable
Compensation Program 2008 and includes all 19,900,000 C shares which
Ericsson has previously decided to issue for the program. Acquisition
shall be made during the period July 28 - August 14, 2008. Payment
for acquired shares shall be made in cash with SEK 5.01 per share.
Ericsson currently holds 43,375,290 shares as treasury stock.
AB Industrivärden and Investor AB have informed Ericsson that they
intend to accept the offer.
Once all 19,900,000 C shares have been acquired by Ericsson, the
Board intends to convert them to B shares. After the conversion, the
number of B shares on issue will amount to 2,984,595,752.
Ericsson is the world's leading provider of technology and services
to telecom operators. The market leader in 2G and 3G mobile
technologies, Ericsson supplies communications services and manages
networks that serve more than 195 million subscribers. The company's
portfolio comprises mobile and fixed network infrastructure, and
broadband and multimedia solutions for operators, enterprises anddevelopers. The Sony Ericsson joint venture provides consumers with
feature-rich personal mobile devices.
Ericsson is advancing its vision of 'communication for all' through
innovation, technology, and sustainable business solutions. Working
in 175 countries, more than 70,000 employees generated revenue of
USD 27.9 billion (SEK 188 billion) in 2007. Founded in 1876 and
headquartered in Stockholm, Sweden, Ericsson is listed on OMX Nordic
Exchange Stockholm and NASDAQ.
For more information, visit www.ericsson.com or www.ericsson.mobi.
FOR FURTHER INFORMATION, PLEASE CONTACT
Media
Ericsson Media Relations
Phone: +46 8 719 69 92
E-mail: press.relations@ericsson.com
Investors
Ericsson Investor Relations
Phone: +46 8 719 00 00
E-mail: investor.relations.se@ericsson.com
