STOCKHOLM, Oct. 26, 2018
STOCKHOLM, Oct. 26, 2018 /PRNewswire/ -- Medicover AB's (publ) board of directors has today resolved to issue and immediately repurchase 2,400,000 new class C shares.
The shares are issued and repurchased in accordance with the terms of the long term performance-based share programs "the Plan 2017" and "the Plan 2018" for group management and other key-employees, as approved by the extraordinary general meeting held on 31 March 2017 and by the annual general meeting held on 26 April 2018.
Nordea Bank Abp will subscribe for all issued C shares at a subscription price of EUR 0.2 per share. All issued C shares will be repurchased by Medicover AB (publ) at a purchase price of EUR 0.2 per share. Following the issue, the share capital will increase by EUR 480,000.
Medicover AB (publ) will hold all C shares in the company after the repurchase.
The purpose of the share issue and the repurchase is to enable the future delivery of performance shares in accordance with the incentive programs the Plan 2017 and the Plan 2018 and to cover social charges associated with the programs. The C shares will be converted to B shares before delivery to the participants.
For further information, please contact:
Director Corporate Communications & Investor Relations
This information is information that Medicover AB (publ) is obliged to make public pursuant to the Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact person set out above, at 09.00 CEST on 26 October 2018.
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Issue and repurchase of class C shares