An extraordinary meeting of shareholders on February 16, 2009, determined to implement an incentive program for senior executives and key personnel by way of an issue of 2,555,000 of subscription warrants entitling subscriptions to an equivalent number of Class B shares in Loomis AB. A total of 75 individuals have invested MSEK 25 in the program which was over subscribed.
The reason for the deviation from the preferential rights of the shareholders in that the Board believes that an options program providing senior members of management and key individuals with the possibility of participating in the Company’s value growth implies that the interest in the Company’s development - as well as the Company’s share price development – will be strengthened and that loyalty to the company will also be strengthened in coming years. An incentive program is expected to contribute to the possibilities of recruiting and retaining competent personnel.
The new share issue has been directed to the wholly-owned company, Loomis Sverige AB, for further issue to senior members of management. The warrants have been issued to the subsidiary at the price of SEK 8.50 per warrant.
The price for subscriptions of shares on the basis of warrants was determined in conjunction with the allotment of the warrants at SEK 72.50 per warrant. This price is equivalent to a market-based valuation of the warrants, including the issue rate, and has been determined by an independent valuation institute applying an established valuation model (Black & Scholes).
Subscription of shares on the basis of warrants can take place during the period 1 March - 31 May 2013.