Cloetta AB announces changes to share and vote count
Confectionery company Cloetta AB announced on April 29, 2011, changes in the total number of shares and votes. The company issued new shares as part of its employee option program.
Confectionery company Cloetta AB announced on April 29, 2011, changes in its total number of shares and votes. In April, the company issued 145,254 new class B shares in connection with its employee convertible program, approved at an extraordinary general meeting on March 20, 2009.
Should the program be fully converted, a total of 1,004,889 new class B shares are expected to be issued by March 2012. These issuances are part of a previously established employee incentive scheme.
As of April 29, 2011, Cloetta AB's share capital amounts to SEK 121,322,250. The company's share structure consists of 2,360,000 class A shares and 21,904,450 class B shares. The total number of votes stands at 45,504,450.
The adjustments in share and vote count are a result of existing commitments related to employee compensation and do not represent a change in the company's ongoing business operations but rather reflect the execution of financial arrangements for personnel.