New issue and repurchase of incentive shares of Class C 2023 and Class D 2023
Kinnevik AB (publ) ("Kinnevik") today announced that the Board has resolved, making use of the authorisation granted by the 2023 Annual General Meeting, on a directed new issue and immediate repurchase of 2,010,222 incentive shares of Class C 2023 and Class D 2023.
The shares have been issued and repurchased in accordance with the terms and conditions for the long-term incentive plan for Kinnevik employees adopted by the Annual General Meeting on 8 May 2023. Svenska Handelsbanken AB (publ) subscribed for all 2,010,222 incentive shares, whereof 1,005,111 of Class C 2023 and 1,005,111 of Class D 2023, at a subscription price corresponding to the quota value of SEK 0.10 per share. All issued incentive shares have subsequently been repurchased by Kinnevik for SEK 0.10 per share and are held in treasury.
The purpose of the issue and the repurchase is that the incentive shares shall be transferred, directly or indirectly, to employees participating in Kinnevik's long-term incentive plan 2023, in accordance with the Annual General Meeting's resolutions. The incentive shares will, if and to the extent the performance-based condition for the respective share class is fulfilled, be reclassified into Kinnevik shares of Class B during 2028.