FPC implements share split and announces decision to buy back shares
The Annual General Meeting of Fingerprint Cards AB held on May 4, 2016 resolved to increase the total number of shares in the company by dividing each share, regardless of class, into five shares of the same class (a five-for-one share split). The Board of Directors was authorized to determine the record date for the share split.
The Board has now decided that the record date for the share split is to be Monday, May 30, 2016, which means that the final day of trading in the share prior to the split is Thursday, May 26, 2016 and the first day of trading in shares after the split is Friday, May 27, 2016.
Due to the split, the company's shares will change ISIN code on May 27, 2016. The new ISIN code for the Class A share is [SE0008374243] and for the Class B share is [SE0008374250]. Shares acquired on the basis of the share split are expected to be registered in the shareholders' securities account on May 31, 2016.
The split will take place automatically via Euroclear Sweden AB and shareholders do not need to take any action. Following the share split, the total number of shares in the company will amount to 322,695,675, of which the number of Class A shares will account for 6,000,000 and the number of Class B shares for 316,695,675.
The Annual General Meeting also resolved to authorize the Board on one or several occasions during the period up to the next Annual General Meeting to make decisions concerning the acquisition of a number of shares in the company so that when they are aggregated, the company's holding at each point in time does not exceed 10% of all of the shares in the company. In addition, the Annual General Meeting resolved to authorize the Board, disapplying the preferential rights of the shareholders, to make decisions on the transfer of the company's treasury shares as a means of payment for acquisitions of companies or business operations at a price corresponding to the stock-market price on the date of transfer.
The authorization may be utilized on several occasions, but no later than the 2017 Annual General Meeting. Treasury shares may only be acquired at a price within the applicable span of share prices at the particular time on Nasdaq Stockholm, by which is meant the span between the highest price paid and the lowest price asked.
The Board has now decided to utilize this authorization based on the conditions resolved by the Annual General Meeting.
The reasons for buying back treasury shares are to:
- Create increased latitude for the Board in its efforts to shape the company's capital structure, which is deemed to have a positive impact on the price trend of the company's share and thus contribute to generating the highest possible return for shareholders
- Create flexibility in the company's opportunities to complete acquisitions of companies or business combinations
For further information, contact:
Jörgen Lantto, CEO, Fingerprint Cards AB (publ), +46-(0)31-60 78 20, investrel@fingerprints.com
About Fingerprint Cards AB (publ)
Fingerprint Cards AB (FPC) is a high-tech and listed company which develops, produces and markets biometric technology that, through the analysis and matching of an individual's unique fingerprint, verify the person's identity. A secure and convenient user experience is thus made possible, beyond keys and pins. The FPC technology offers world-class advantages and includes unique image quality, extreme robustness, low power consumption and complete biometric systems. With these advantages, in combination with low production costs, the technology may be implemented in large volume products, such as smartphones, tablets and biometric cards where these demands are extremely high. The technology has been tested thoroughly in several fields of application.
The information was issued for publication on May 23, 2016 at 8:00 a.m. CET.
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