New number of shares and votes in Telefonaktiebolaget LM Ericsson

Rhea-AI Summary

As of May 31, 2024, Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) reported a total of 3,348,251,735 shares, split into 261,755,983 A shares and 3,086,495,752 B shares. The total number of votes stands at 570,405,558.2, with A shares contributing 261,755,983 votes and B shares 308,649,575.2 votes. This increase follows the issue of 4.1 million C shares in May 2024, which were repurchased and converted into B shares to support the Long-Term Variable Compensation Program LTV I 2023. Ericsson currently holds 15,579,561 B shares as treasury stock. This update adheres to the Swedish Financial Instruments Trading Act and was made public on May 31, 2024, at 08:00 CEST.

Positive

• Increase in total share count to 3,348,251,735 shares.
• Expansion of treasury stock with 15,579,561 B shares.
• Support of Long-Term Variable Compensation Program LTV I 2023.

Negative

• Dilution of existing shares due to the issuance of 4.1 million C shares.
• Complexity in share structure with multiple share types and conversion processes.

STOCKHOLM, May 31, 2024 /PRNewswire/ -- The total number of shares in Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) as of May 31, 2024, amounts to 3,348,251,735, of which 261,755,983 are A shares and 3,086,495,752 are B shares. The total number of votes is 570,405,558.2 of which the A shares represent 261,755,983 votes and the B shares represent 308,649,575.2 votes.

The increase in the number of shares and votes is a result of the company's issue of 4.1 million C shares completed in May 2024. The C shares have subsequently been repurchased by the company and converted into B shares by virtue of a conversion clause in the articles of association. This is in accordance with the resolution by the AGM 2024 to expand the treasury stock as part of the financing of the Long-Term Variable Compensation Program LTV I 2023 for the company's executive team. The company currently holds 15,579,561 B shares as treasury stock.

This information is information that Telefonaktiebolaget LM Ericsson is obliged to make public pursuant to the Swedish Financial Instruments Trading Act. The information was submitted for publication at 08.00 CEST on May 31, 2024.

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ABOUT ERICSSON:

Ericsson enables communications service providers and enterprises to capture the full value of connectivity. The company's portfolio spans the following business areas: Networks, Cloud Software and Services, Enterprise Wireless Solutions and Global Communications Platform. It is designed to help our customers go digital, increase efficiency and find new revenue streams. Ericsson's innovation investments have delivered the benefits of mobility and mobile broadband to billions of people globally. Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com

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New number of shares and votes in Telefonaktiebolaget LM Ericsson

 

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SOURCE Ericsson

FAQ

What are the new total shares reported by Ericsson as of May 31, 2024?

As of May 31, 2024, Ericsson reported a total of 3,348,251,735 shares.

How are Ericsson's shares divided between A and B shares?

Ericsson has 261,755,983 A shares and 3,086,495,752 B shares.

What is the total number of votes in Ericsson as of May 31, 2024?

The total number of votes is 570,405,558.2, with A shares holding 261,755,983 votes and B shares holding 308,649,575.2 votes.

Why did Ericsson issue 4.1 million C shares in May 2024?

The 4.1 million C shares were issued to expand the treasury stock as part of the financing for the Long-Term Variable Compensation Program LTV I 2023 for Ericsson's executive team.

What happened to the 4.1 million C shares issued by Ericsson?

The 4.1 million C shares were repurchased by Ericsson and converted into B shares according to the articles of association.