The purpose of the issue and the repurchase is to ensure delivery of shares to employees within AcadeMedia under the long term incentive program, adopted by the general meeting on 1 June 2016. The class C shares will be converted into ordinary shares prior to delivery to qualifying participants of the incentive program. The class C shares do not entitle to dividends and each share entitles to 1/10 voting right. AcadeMedia has previously not issued any class C shares.
By virtue of an authorization by the general meeting on 1 June 2016, the board of directors of AcadeMedia has resolved to increase the share capital with SEK 165,000, through a directed issue of 165,000 new class C shares to Nordea Bank AB (publ) ("Nordea"), each with a subscription price of SEK 1 per share, corresponding to its quota value. Pursuant to the board of directors’ resolution, the entire issue of class C shares will thereafter be repurchased from Nordea for the same price.
For more information, please contact:
Christian Hall, Investor Relations
Telephone: + 46 763-111 242
AcadeMedia is the leading and single largest independent education provider in northern Europe. In 2014/15, approximately 62,000 children and students attended AcadeMedia’s preschools, compulsory schools and upper secondary schools. An additional 80,000 individuals participated in AcadeMedia’s adult education courses. In 2014/15, AcadeMedia had approximately 400 preschools, compulsory schools and upper secondary schools in Sweden and Norway and approximately 150 adult education units in Sweden. In February 2016, AcadeMedia also took a first step in the Company’s expansion outside Scandinavia through the acquisition of Joki, which operates seven preschools with approximately 450 children in the Munich region of Germany. AcadeMedia has operations throughout the education chain, from preschool, compulsory school and upper secondary school to adult education. More information about AcadeMedia is available on www.academedia.se
The information was submitted for publication at 08:00 CET on 26 September 2016.