Announcement of change in the total number of votes in AB SKF

Rhea-AI Summary

On May 31, 2024, SKF announced a conversion of shares from Series A to Series B, impacting the company's share capital and voting rights. As of this date, SKF's share capital stands at SEK 1,138,377,670, with 29,271,933 Series A shares and 426,079,135 Series B shares. The total number of votes now amounts to 71,879,846.5. SKF clarified that it does not hold any of its own shares. This announcement was made public in compliance with the Financial Instruments Trading Act.

Positive

• Increased transparency regarding share conversion and voting rights.
• Clear information on the updated share capital and distribution between Series A and Series B shares.
• Adherence to regulatory requirements by making the information public.

Negative

• Potential dilution of voting power for Series A shareholders due to conversion.
• Complexity in understanding the impact on individual shareholder voting rights.
• No indication of how the conversion affects the company's financial performance or strategic direction.

GOTHENBURG, Sweden, May 31, 2024 /PRNewswire/ -- Due to a conversion of shares from Series A to Series B in accordance with AB SKF's Articles of Association, the Company confirms the following.

As per 31 May 2024, the Company's share capital amounts to SEK 1,138,377,670 and the total number of shares amounts to 29,271,933 shares of Series A and 426,079,135 shares of Series B. The number of votes in the Company amounts to 71,879,846.5.

AB SKF does not hold any own shares.

Aktiebolaget SKF 
      (publ)

Information in this press release contains information that AB SKF is obliged to make public pursuant to the Financial Instruments Trading Act. The information was submitted for publication on 31 May 2024 at 08.00 CEST.

For further information, please contact:
Press Relations: Carl Bjernstam, +46 31-337 2517; +46 722 201 893; carl.bjernstam@skf.com
Investor Relations: Sophie Arnius, +46 31-337 8072; +46 705 908 072; sophie.arnius@skf.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/skf/r/announcement-of-change-in-the-total-number-of-votes-in-ab-skf,c3992004

The following files are available for download:

https://mb.cision.com/Main/637/3992004/2834665.pdf

20240531 Announcement of change in the total number of votes in AB SKF

 

View original content:https://www.prnewswire.com/news-releases/announcement-of-change-in-the-total-number-of-votes-in-ab-skf-302160418.html

SOURCE SKF

FAQ

What is the new share capital of SKF as of May 31, 2024?

As of May 31, 2024, SKF's share capital amounts to SEK 1,138,377,670.

How many Series A and Series B shares does SKF have after the conversion?

SKF has 29,271,933 Series A shares and 426,079,135 Series B shares after the conversion.

What is the total number of votes in SKF following the share conversion?

The total number of votes in SKF is 71,879,846.5 following the share conversion.

Does SKF hold any of its own shares?

No, SKF does not hold any of its own shares.

Why did SKF make the share conversion announcement public?

SKF made the announcement public to comply with the Financial Instruments Trading Act.