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Kinnevik AB (publ) ("Kinnevik") today announced that the Board has resolved to redeem a total of 718,314 incentive shares issued under Kinnevik's long-term incentive plans for 2019 and 2021-2023.
The Board has today resolved, in accordance with Kinnevik's Articles of Association, to redeem all 379,312 outstanding incentive shares of Class G 2019 as the applicable performance condition has not been fulfilled during the period 1 April 2019 - 31 March 2024, as well as 8,277 incentive shares of Class C 2021, 11,250 incentive shares of Class C 2022, 149,974 incentive shares of Class C 2023, 8,277 incentive shares of Class D 2021, 11,250 incentive shares of Class D 2022 and 149,974 incentive shares of Class D 2023 held in treasury by the Company and by former participants in Kinnevik's long-term incentive plans for 2021-2023.
The redemption of all outstanding incentive shares of Class G 2019 entails that the dividend of SEK 137.87 per share of Class G 2019 as compensation for paid dividends and other value transfers since 2019 proposed by the Board to the 2024 Annual General Meeting will not be paid.