Eltel AB (publ) (“Eltel”) today announces that the Board of Directors has resolved, by virtue of the authorisations by the 2025 Annual General Meeting to issue and thereafter re-purchase 5,090,500 class C shares. The shares are issued and re-purchased in accordance with the authorisation regarding the incentive programs LTIP 2024 and LTIP 2025 that the 2025 Annual General Meeting resolved upon.
Nordea Bank Abp, filial i Sverige will subscribe for the entire issue of new class C shares at a subscription price of EUR 0.01 per share, corresponding to the quota value of the shares. The entire issue of class C shares will thereafter, in accordance with the Board of Directors’ resolution, be re-purchased by Eltel for the same price. The class C shares will be converted into ordinary shares prior to delivery to qualifying participants of LTIP 2024 and LTIP 2025, respectively.
The purpose of the re-purchase is to ensure delivery of shares to participants and to secure social contributions arising as a result of LTIP 2024 and LTIP 2025, respectively. The class C shares do not entitle to dividends and each share entitles to 1/10 voting right.