B&B TOOLS: EGM of Shareholders in B&B TOOLS AB on 14 June 2017 regarding the distribution of Momentum Group and the election of a new Board of Directors - and a new President & CEO of B&B TOOLS
The following resolutions were passed at today's Extraordinary General Meeting of Shareholders ("EGM") and subsequent statutory Board meeting of B&B TOOLS AB (publ):
Distribution of the shares in Momentum Group AB (publ)
In accordance with the proposal of the Board of Directors, the EGM resolved to distribute all of B&B TOOLS' shares in Momentum Group AB (publ) to the shareholders in B&B TOOLS.
One (1) Class A share in B&B TOOLS entitles the holder to one (1) Class A share in Momentum Group, and one (1) Class B share in B&B TOOLS entitles the holder to one (1) Class B share in Momentum Group. The record date for the distribution will be 16 June 2017. The shares in Momentum Group are expected to be registered in the securities account of the recipient on or about 20 June 2017. The first day of trading in Momentum Group's Class B shares on Nasdaq Stockholm is expected to take place on 21 June 2017.
Election of directors
The EGM also resolved to elect a new Board of Directors of B&B TOOLS. Fredrik Börjesson, Charlotte Hansson and Gunilla Spongh, who previously served on the Board of Directors of B&B TOOLS, will join the Board of Directors of Momentum Group. Accordingly, they have stepped down from their positions on the Board of Directors of B&B TOOLS. In accordance with the proposal of the Election Committee, today's EGM resolved that Malin Nordesjö, Johan Sjö and Louise Undén will replace the directors leaving B&B TOOLS for the period until the end of the forthcoming Annual General Meeting.
New President & CEO of B&B TOOLS - Pontus Boman
As previously announced, President & CEO of B&B TOOLS, Ulf Lilius, stepped down from his position in conjunction with the resolution at the EGM to distribute the shares in Momentum Group in order to assume the role of President & CEO of Momentum Group. Accordingly, at the subsequent statutory Board meeting, the Board of Directors decided to appoint current Executive Vice President Pontus Boman as the new President & CEO of B&B TOOLS.
Information on the Extraordinary General Meeting of Shareholders
Further information on the EGM is available on the Company's website under: Corporate Governance / General Meeting of Shareholders / Extraordinary General Meetings.
Stockholm, 14 June 2017
B&B TOOLS AB (publ)
For further information, please contact:
Mats Karlqvist, Head of Investor Relations, B&B TOOLS AB, Tel: +46 70 660 31 32
This information is such that B&B TOOLS AB (publ) is obliged to make public pursuant to Nasdaq Stockholm's Rule Book for Issuers. This information was submitted for publication on 14 June 2017 at 12:30 p.m. CET.170614 BB TOOLS PR EGM and subsequent statutory Board meeting Eng
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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: B&B TOOLS via Globenewswire