NACKA STRAND, Sweden--(BUSINESS WIRE)--Regulatory News:
Hexagon (STO:HEXAB):
The extraordinary general meeting resolved today in accordance with the Board of Director’s proposal to implement a warrants programme for the group management, division management, other senior managers and key employees in the group by a directed issue of 13,665,000 subscription warrants.
The issue shall be directed to the wholly-owned subsidiary Hexagon Förvaltning AB for the purpose of transferring them to approximately 250 of the Board of Director’s identified participants at a price corresponding to the issue rate of SEK 10 per warrant and the remaining warrants shall be reserved for future recruitment. The issue rate may be adjusted in case of material changes in the price of Hexagon AB’s share until to subscription is made by Hexagon Förvaltning AB.
Each subscription warrant shall entitle the holder to subscribe for one share of series B in Hexagon AB during the period from 1 January 2012 up to and including 31 December 2015. The subscription rate for one new share shall be determined based on a market valuation of the subscription warrants including the issue rate per subscription warrant. The proposed issue of warrants will result in a total dilution of maximum approximately 3.7 per cent in proportion to the number of shares in the company.
The reason for deviation from the shareholders’ preferential rights is that Hexagon AB wishes to introduce a warrants programme intended for allotment to senior managers and key employees within the group, whereby they will be offered the opportunity to take part in a value increase of the company’s share. This is expected to increase the interest in the company’s development – as well as in the company’s share price development – and to stimulate a continued company loyalty over the forthcoming years.
This press release consists of such information that Hexagon AB (publ) is obliged to disclose in accordance with the Swedish Securities Market Act and /or the Financial Instruments Trading Act. The information was submitted for publication on 15 December 2011 at 18:00 CET.
Hexagon is a leading global provider of design, measurement and visualisation technologies. Our customers can design, measure and position objects, and process and present data, to stay one step ahead of a changing world. Hexagon’s solutions increase productivity, enhance quality and allow for faster, better operational decisions, saving time, money and resources. Hexagon has over 12 500 employees in more than 40 countries and net sales of about 2 200 MEUR. Our products are used in a broad range of industries including surveying, power and energy, aerospace and defence, safety and security, construction and manufacturing. Learn more at www.hexagon.com.
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