STOCKHOLM, March 9, 2020 /PRNewswire/ -- On February 21, 2020 the Extraordinary General Meeting of AB Electrolux (publ) ("Electrolux") decided to distribute all shares in the wholly-owned subsidiary Electrolux Professional AB (publ) ("Electrolux Professional") to the shareholders of Electrolux. The Board of Director's were at the same time authorized to determine the record date for the distribution. The record date has now been set to March 19, 2020.
All shares in the wholly owned subsidiary Electrolux Professional will be distributed, 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. Aside from being registered as a shareholder of Electrolux on the record date for distribution, no further actions are required by shareholders in order to receive shares in Electrolux Professional.
Nasdaq Stockholm's Listing Committee has decided to admit Electrolux Professional's shares of series A and shares of series B for trading on Nasdaq Stockholm subject to customary conditions, such as the Swedish Financial Supervisory Authority's approval of the prospectus.
The last day for trading in shares of Electrolux including the right to receive shares in Electrolux Professional is March 17, 2020. As of March 18, 2020, the shares of Electrolux will be traded without the right to receive shares in Electrolux Professional.
The first day of trading in Electrolux Professional is expected to be Monday, March 23, 2020. Electrolux Professional's shares of series A will be traded under the ticker EPRO A with the ISIN code SE0013720018 and shares of series B will be traded under the ticker EPRO B with the ISIN code SE0013747870.
The prospectus for admission to trading of the shares in Electrolux Professional is expected to be published on March 10, 2020. The prospectus will be available on Electrolux and Electrolux Professional's websites.
Timetable for distribution and listing of Electrolux Professional on Nasdaq Stockholm
March 10, 2020: Publication of prospectus
March 11, 2020: Investor Day for investors, financial analysts and media representatives (webcast event)
March 17, 2020: Last day of trading in shares of Electrolux including the right to receive shares in Electrolux Professional
March 18, 2020: Electrolux shares are traded without the right to receive shares in Electrolux Professional
March 19, 2020: Record date for distribution of shares in Electrolux Professional
March 23, 2020: Estimated first day of trading in Electrolux Professional's shares
For further information, please contact:
Electrolux Press Hotline
This is information that AB Electrolux is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 0802 CET on March 9, 2020.
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