Presiddent of SAS danish Fritz Schur was leading fridays meeting in Stockholm(Photo: Wikipedia)

The State of Sweden says no to by new shares according to Sveriges Radio. Notice convening the Extraordinary General Meeting of SAS AB reports SAS News October 6, 2017. Shareholders in SAS AB (publ) are hereby invited to attend the Extraordinary General Meeting on Friday 3 November 2017. The General Meeting will be held at 10:00 a.m. at the Company’s Head Office, Frösundaviks allé 1, Solna, Sweden.The Board’s complete proposal under item 7 and proxy forms will be available at the Company and on the Company’s website www.sasgroup.net (under About SAS/Corporate Governance) by the latest as from 13 October 2017.

PROPOSALS FOR RESOLUTIONS

The Board of Directors’ proposal on authorization for the Board to resolve on a directed issue of common shares (item 7) The Board of Directors proposes the General Meeting to authorize the Board to resolve, on one or several occasions up until the next Annual General Meeting, on a new issue of common shares with disapplication of the
shareholders’ preferential rights.

The total number of common shares that may be issued shall total not more than 66,000,000 shares, corresponding to nearly 20 % of the number of common shares in issue, and shall be within the limits of the current articles of association. Issuance of common shares shall be made on market terms and conditions, whereby the subscription price for each new common share should be determined by an auction procedure (an accelerated book building
process).

Future investment

The reasons for the authorization and that a potential new issue of common shares shall be made with disapplication of the shareholders’ preferential rights, are that the Company under favourable market conditions, in a cost- and time-efficient manner, should be able to strengthen its equity position for the purpose of obtaining better terms for financing future aircraft investments and refinancing upcoming loan maturities as well as to enable a potential
future redemption of preference shares.

In addition, by a disapplication of the shareholders’ preferential rights, the Company may broaden and strengthen the shareholder base of the Company. Furthermore, the Company deems that the conditions for a successful and efficient issue of new shares with preferential rights for the Company’s shareholders currently are not at
hand as several of the Company’s main shareholders do not intend to participate in such a share issue. A potential issue of new common shares shall, according to the proposed authorization, be directed to a number of selected Scandinavian and international institutional investors, as well as anchor investors and other investors deemed
by the Board of Directors to be beneficial for the successful implementation of the share
issue.

New Share Capital

It is also proposed that the Board of Directors is authorized to take any necessary measures, including such transfer from unrestricted equity to the share capital that may be required according to Chapter 13, section 4, paragraph 3 of the Swedish Companies Act (Aktiebolagslagen), prior to registration of the issued shares with the
Swedish Companies Registration Office (Bolagsverket).

The resolution of the General Meeting, in accordance with the Board of Directors’ proposal, must be supported by shareholders representing at least two-thirds of both thevotes cast and the shares represented at the
General Meeting.
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The Board’s complete proposal under item 7 and proxy forms will be available at the Company and on the Company’s website www.sasgroup.net (under About SAS/Corporate Governance) by the latest as from 13 October 2017. The documents will be sent to shareholders who so request at the Company’s address SAS AB (publ), SAS
Investor Relations, Attn. Britta Eriksson/STODL, SE-195 87 Stockholm, stating their address. The documents will also be available at the General Meeting venue before the meeting is called to order.
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If a shareholder so requests, and if the Board determines it can be made without significant harm to the Company, at the General Meeting, the Board and the CEO should provide information on circumstances that
may affect the assessment of an agenda item.
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The notice of this General Meeting, including a proxy form will be distributed by e-mail to all registered shareholders who have notified their e-mail address to the Company. The notice will also be held available at the
Company’s website www.sasgroup.net (under About SAS/Corporate Governance). The notice will further be sent by regular mail free of charge to shareholders who so request at the Company’s address SAS AB (publ), SAS Investor Relations, Attn. Britta Eriksson/STODL, SE-195 87 Stockholm, stating their address, writes The Board of Directors in SAS AB.

CEO Rickard Gustafson wansts new capital in SAS AB(Photo: SASGroup.net)

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