The Annual General Meeting 2018 resolved to authorize the Board to decide on one or more occasions, until the next AGM, to make the Company enter into one or more share swap agreements with third parties on terms consistent with market practice.The purpose is to secure the Company’s obligations due to adopted incentive programs.
The participants in the Group’s long-term incentive programs are entitled to receive a maximum number of shares in accordance with the conditions of the programs, and transfers of shares under the programs are made without consideration.
529,584 B-shares were transferred to participants in the long-term incentive program for 2015, decreasing the number of B-shares held by the Company. At the end of 2018 the Company did not own any own shares.
At year-end 2018, Husqvarna AB had entered into an equity-swap agreement whereby a third-party bank had acquired 4,670,416 B-shares to cover obligations under long-term incentive programs. In addition, the 2018 AGM authorized the Board to resolve to issue not more than 57.6 million B-shares, representing 10% of the total number of shares in issue, to facilitate acquisitions where the consideration will be paid with own shares. No such issuance was made in 2018.