Autoliv Retires Repurchased Shares, Decreases Number of Issued Shares

Rhea-AI Summary

Autoliv (NYSE: ALV), a global leader in automotive safety systems, announced that as of June 28, 2024, the total number of issued shares decreased to 84,816,615, with 80,079,757 shares outstanding. This reduction follows the retirement of 1,309,606 repurchased shares. Autoliv now holds 4,736,858 treasury shares, which carry no voting or distribution rights under Delaware law. The company, which reported $10.5 billion in sales for 2023, emphasizes its commitment to mobility safety, having saved 35,000 lives and reduced 450,000 injuries last year.

Positive

• Reduction of outstanding shares to 80,079,757 enhances shareholder value.
• Retirement of 1,309,606 shares may positively impact earnings per share.

Negative

• The company holds 4,736,858 treasury shares with no voting rights impacting liquidity.

STOCKHOLM, June 28, 2024 /PRNewswire/ -- Autoliv, Inc. (NYSE: ALV) (SSE: ALIVsdb), the worldwide leader in automotive safety systems, today announced that as of June 28, 2024, the total number of issued shares of common stock is 84,816,615 of which 80,079,757 shares are outstanding. 

Autoliv retired 1,309,606 shares of common stock that had been repurchased during the quarter which resulted in a decrease in the issued shares.

The Company now has a total of 84,816,615 issued shares of common stock of which 80,079,757 shares are outstanding. Each share of outstanding common stock is entitled to one vote. After the retirement of the repurchased shares, Autoliv holds 4,736,858 shares of common stock in treasury which have no voting rights or rights to participate in distributions under Delaware law.

This information is of such character that Autoliv, Inc. is obliged to disclose in accordance with the Swedish Financial Instruments Trading Act (Sw. lagen (1991:980) om handel med finansiella instrument). The information was distributed for disclosure, through the agency of the contact persons set out below, on June 28, 2024, 08:00 CET.

Inquiries: 

Media: media@autoliv.com

Gabriella Etemad, Tel +46 (0)8 58 720 602 or Emelie Ericson +46 (0)8 58 720 635

Investors & Analysts: ir@autoliv.com

Anders Trapp, Tel +46 (0)8 587 206 71 or Henrik Kaar, Tel +46 (0)8 587 206 14

About Autoliv

Autoliv, Inc. (NYSE: ALV) (NASDAQ Stockholm: ALIV.sdb) is the worldwide leader in automotive safety systems. Through our group companies, we develop, manufacture and market protective systems, such as airbags, seatbelts, and steering wheels for all major automotive manufacturers in the world as well as mobility safety solutions, such as pedestrian protection, connected safety services and safety solutions for riders of powered two wheelers. At Autoliv, we challenge and re-define the standards of mobility safety to sustainably deliver leading solutions. In 2023, our products saved  35,000 lives and reduced more than 450,000 injuries.

Our 70,000 associates in 25 countries are passionate about our vision of Saving More Lives and quality is at the heart of everything we do. We drive innovation, research, and development at our 14 technical centers, with their 20 test tracks. Sales in 2023 amounted to $10.5 billion. For more information go to www.autoliv.com.

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https://news.cision.com/autoliv/r/autoliv-retires-repurchased-shares--decreases-number-of-issued-shares,c4003643

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SOURCE Autoliv

FAQ

What is the impact of Autoliv's share retirement on its stock?

The retirement of 1,309,606 shares decreases the total number of issued shares to 84,816,615, potentially enhancing shareholder value by increasing the earnings per share.

How many shares does Autoliv have outstanding as of June 28, 2024?

As of June 28, 2024, Autoliv has 80,079,757 outstanding shares.

What is the significance of Autoliv holding treasury shares?

Autoliv holds 4,736,858 treasury shares, which have no voting rights or rights to participate in distributions, potentially impacting the company's liquidity.

What date did Autoliv announce the retirement of its repurchased shares?

Autoliv announced the retirement of its repurchased shares on June 28, 2024.

What was Autoliv's sales figure for 2023?

Autoliv reported $10.5 billion in sales for 2023.