Terms and conditions regarding offer for redemption of SSAB shares
March 20, 2006 15:39 CET 6 min read
The Board of Directors of SSAB Swedish Steel, today established the terms and conditions with respect to the offer for redemption of shares which is to be decided upon by the Annual General Meeting in Oxelösund on April 21. The Board of Directors’ proposed terms and conditions entail, in brief: • Redemption of every twentieth share at a price of SEK 485/share. • The record date for the right to obtain redemption rights shall be April 26. • The redemption application period shall be May 2-29. • Trading in redemption rights shall take place May 2-23. • Payment with respect to redeemed shares shall take place prior to Midsummer. In order to ensure implementation of the redemption offer even if the price of SSAB shares changes significantly, the Board of Directors reserves the right to change the redemption price and the redemption ratio, etc. not later than April 6. The Board of Directors’ complete proposed resolution regarding redemption will be available not later than April 7 and will be sent to the shareholders upon request. The proposal will also be available on the website, www.ssab.com The English version of the annual report may be downloaded from the website. An information brochure describing the redemption offer will be distributed on or about April 28 to those shareholders who are directly registered at VPC. This press release has not and will not, directly or indirectly, be distributed or made public in the United States of America, Australia, Canada, Japan or New Zeeland. The Offer is not being made to persons whose participation requires additional prospectus or registration measures or other measures in addition to those required by Swedish law.