Securitas new employee incentive program completed
The total programme amounts to 443,5 MEUR. Securitas AB has issued four convertible debenture loans of 110,87 MEUR each to an independent special purpose company, Securitas Convertible 2002 Holding S:A, in which the employees have subscribed for shares.
The reference price for the Securitas share which was determined as the average closing price during the period April 24th to April 30th was set to 186,90 SEK. The Euro SEK exchange rate was set to 9,23 SEK. This gives a conversion rate of 20,23 Euro on the first convertible debenture. The second, third and fourth series will have conversion rates of 24,30 EUR (20% premium), 28,40 EUR (40% premium) and 32,40 EUR (60% premium). The programme and the convertible debentures runs until May 2007.
The dilution effect will be 4,75 % of the share capital and 3,34 % of the votes measured after full conversion of the existing outstanding convertible debenture programme
This information was brought to you by Cision http://newsroom.cision.com