At the Extraordinary General Meeting ("EGM") in AB Electrolux ("Electrolux") held today in Stockholm it was resolved to distribute all shares in the wholly-owned subsidiary Electrolux Professional AB ("Electrolux Professional") to the shareholders of Electrolux.
STOCKHOLM, Feb. 21, 2020 /PRNewswire/ -- The EGM resolved in accordance with the Board's proposal to distribute all shares in the wholly-owned subsidiary Electrolux Professional, whereby one (1) share of series A in Electrolux will entitle to one (1) share of series A in Electrolux Professional and one (1) share of series B in Electrolux will entitle to one (1) share of series B in Electrolux Professional.
The EGM also authorized the Electrolux Board to determine the record date for the distribution of the shares in Electrolux Professional. The record date is expected to take place close to the distribution and first day of trading in the Electrolux Professional share, which is planned to take place on March 23, 2020.
Electrolux Professional intends to apply for listing of the shares in Electrolux Professional on Nasdaq Stockholm by the end of February 2020. A prospectus for admission to trading of the shares in Electrolux Professional is planned to be published on March 10, 2020.
Investors, financial analysts and media representatives are invited to Electrolux Professional's first Investor Day, planned to be held on March 11, 2020 in Stockholm, Sweden. Registration for the Investor Day is done through Jacob Broberg, SVP Investor Relations and Corporate Communication for Electrolux Professional: jacob.broberg@electroluxprofessional.com
Full details on the proposal adopted by the EGM can be downloaded at www.electroluxgroup.com/egm2020.
CONTACT:
For further information, please contact:
Sophie Arnius, Head of Investor Relations, +46 70 590 80 72
Electrolux Press Hotline, +46 8 657 65 07
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