S- MALMÖ, Sweden--(BUSINESS WIRE)--Regulatory News:
Based on the authorization from the Annual General Meeting 2010, the Board of Directors for BE Group AB (STO:BEGR) has resolved to transfer own shares on Nasdaq OMX Stockholm.
In order to hedge certain social security payments related to the share savings schemes resolved by the Annual General Meeting (“AGM”) 2008 and 2009, the AGM held on April 27, 2010 authorized the Board of Directors to resolve, on one or several occasions prior to the AGM 2011, on the transfer of the requisite number of own shares to hedge the social security payments related to said share savings schemes, however not exceeding 71,472 shares in BE Group.
On the basis of the AGM’s authorization, the Board of Directors has resolved to transfer 4,273 own shares on Nasdaq OMX Stockholm for the hedging of social security payments related to the share savings scheme which was resolved by the AGM 2008. The transfer will be made within the spread, i.e. the interval between the highest purchase price and the lowest sales price. The total number of shares in BE Group AB amounts to 50,000,000 and the company owns at the time of this press release 414,135 own shares, intended for ongoing share savings schemes.
For information related to the implementation of the transfer of own shares, please see www.nasdaqomxnordic.com.
BE Group, listed on the Nasdaq OMX Stockholm since November 2006, is one of the leading trading and service companies for steel and other metals in Europe. The Group has about 10,000 customers, primarily in the construction and engineering industries. BE Group provides various forms of service for steel, stainless steel and aluminium applications. In 2010, the company reported sales totaling SEK 5.1billion. BE Group has about 900 employees in nine countries in northern Europe, where Sweden and Finland are its largest markets. The head office is located in Malmö, Sweden. Read more about BE Group at www.begroup.com
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