Ericsson transfer of own stock in relation to the Global Stock Incentive Program 2001.Business Editors/High-Tech Writers STOCKHOLM Stockholm (stŏk`hôlm'), city (1995 pop. 692,954), capital of Sweden and of Stockholm co., E Sweden, situated where Lake Mälaren flows into the Baltic Sea. , Sweden--(BUSINESS WIRE)--March 4, 2003 The Board of Directors of Ericsson Er·ics·son , John 1803-1889. American engineer and inventor who built the first ironclad warship, the Monitor (1862), which engaged the Confederate Merrimack in a famous naval battle of the Civil War (March 9, 1862). (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ERICY) proposes the Annual General Meeting in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with previous decisions that the Company transfer its own stock in order to cover certain payments that occur in relation to the Company's Global Stock Incentive Program 2001 for employees. The Annual General Meeting in 2001 resolved to approve transfer of own stock in relation to the introduction of a Global Stock Incentive Program. The Resolution comprised, inter alia [Latin, Among other things.] A phrase used in Pleading to designate that a particular statute set out therein is only a part of the statute that is relevant to the facts of the lawsuit and not the entire statute. a right for the Company to transfer a maximum of 31,000,000 shares of series B to cover certain payments, mainly for social security charges that may occur in relation to the Program. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the resolution by the Annual General Meeting, transfer should take place prior to the Annual General Meeting 2002. No such transfer had been made pursuant to the resolution prior to the Annual General Meeting 2002, at which the Meeting made a new resolution that the Company should be able to transfer own stock, as described above prior to the Annual General Meeting 2003. In accordance with the resolution, 460,535 shares have been transferred up to today's date. Therefore, the Board of Directors proposes the Annual General Meeting to resolve that the Company shall have the right to transfer, prior to the Annual General Meeting 2004, a maximum of 30,539,465 shares of series B or the lower number of shares, which, as per March 25, 2003, remains of the original 31,000,000 shares, for the purpose of covering certain payments, primarily for social security charges that may occur in relation to the Company's Global Stock Incentive Program 2001. Transfer of the shares shall be effected at Stockholmsborsen at a price within the, at each time, registered price interval for the share. Based on the share market value and the Company's financial statement by December 31, 2002, a transfer of 30,539,465 shares would add SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 186 million to the liquidity and increase the equity ratio by 0.1 percentage points. The transfer of shares, as proposed, would not affect the Company's result, as the consideration would be transferred to the equity. The number of outstanding shares would increase, corresponding to 0.19 percent of the outstanding shares per December 31, 2002. As per today, Ericsson holds 152,993,689 own shares. The complete proposal of the Board will be available on Ericsson's website, www.ericsson.com, as from 25 March 2003. Ericsson is shaping the future of Mobile and Broadband Internet See broadband. communications through its continuous technology leadership. Providing innovative solutions in more than 140 countries, Ericsson is helping to create the most powerful communication companies in the world. Read more at http://www.ericsson.com/press |
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