Solna, Sweden, 2016-Jan-14 — /EPR Retail News/ — As previously announced, all C shares in ICA Gruppen will be converted to ordinary shares in January 2016. ICA Gruppen’s board of directors today made the decision that conversion shall be carried as prescribed in the company’s Articles of Association.
The total number of shares in ICA Gruppen is 201,146,895, of which 82,067,892 are C shares up until conversion. The company’s Articles of Association stipulate that, at the request of shareholders, C shares shall be converted to ordinary shares and that a conversion may take place not earlier than in January 2016. As previously announced, ICA-handlarnas förbund, which owns all of the C shares, made such a request on January 1st2011, which has prompted the Board to now make a decision on conversion in accordance with the company´s Articles of Association. The total number of shares and votes will remain unchanged after the conversion, as will ICA-handlarnas förbund’s share of ownership in ICA Gruppen, 51.3%.
Ordinary shares and C shares have the same voting rights, but different entitlement to cash dividends. Ordinary shares have an unrestricted entitlement to dividends, while C shares lack any right to cash dividends. After the completed conversion, ICA Gruppen will only have one class of shares – ordinary shares – carrying equal entitlement to dividends.
For more information
ICA Gruppen press service, Telephone number: +46 10 422 52 52
ICA Gruppen discloses the information provided herein pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 15.00 on Thursday, 14 January 2016.
SOURCE: ICA Gruppen AB