The board of directors in Lifco AB (publ) has today been informed by the company’s principal shareholder, Carl Bennet AB, that board members and senior executives in Lifco have acquired synthetic call options in Lifco issued by Carl Bennet AB.
Carl Bennet AB has offered all board members elected by the general meeting, excluding Carl Bennet, and all senior executives in Lifco, 21 people in total, to acquire synthetic call options in Lifco issued by Carl Bennet AB. In total 415,201 options have been acquired at a price corresponding to the market value of the options on the date of transaction, according to a valuation conducted by PricewaterhouseCoopers. The total market value of the options at the time of the transaction has been calculated to MSEK 9.5.
The synthetic call options are related to the Lifco Class B share and have a maturity of four years and may be exercised during the period 1 March–31 May 2025. The exercise price per option is SEK 223.71, corresponding to 122 per cent of the volume-weighted average price paid for the Lifco Class B share on Nasdaq Stockholm during the period 24–28 May 2021. When exercising the option, the option holder will receive a cash payment from the option issuer corresponding to the market value of the share at the time of the exercise reduced by the exercise price. The terms and conditions for the options contain a cap, entailing that the maximum payout for each option is SEK 326.40. The options are not subject to any transfer restrictions.
Lifco has not been involved in the offer that has been provided by Carl Bennet AB to board members and senior executives in Lifco on its own initiative. The offer does not incur any costs for Lifco.
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Lifco offers a safe haven for small and medium-sized businesses. Lifco’s business concept is to acquire and develop market-leading niche businesses with the potential to deliver sustainable earnings growth and robust cash flows. Lifco is guided by a clear philosophy centred on long-term growth, a focus on profitability and a strongly decentralised organisation. The Group has three business areas: Dental, Demolition & Tools and Systems Solutions. At year-end 2020, the Lifco Group consisted of 175 operating companies in 31 countries. In 2020, Lifco reported EBITA of SEK 2,702 million on net sales of SEK 13.8 billion. The EBITA margin was 19.6 per cent. Read more at www.lifco.se.