The Board of Directors of Precise Biometrics AB has today, in accordance with the authorization of the Annual General Meeting on May 19, 2022, resolved to issue and repurchase shares of series C to secure Precise Biometrics’ obligations pursuant to the incentive program LTI 2022/2028.
The Annual General Meeting of Precise Biometrics on May 19, 2022 resolved to authorize the Board of Directors to resolve on a directed issue of convertible and redeemable shares of series C in Precise Biometrics, in order to secure the company’s obligations pursuant to the long-term incentive program LTI 2022/2028 resolved at the Annual General Meeting. The Annual General Meeting also resolved to authorize the Board of Directors to resolve on repurchase of all issued shares of series C through an acquisition offer addressed to all owners of shares of series C.
The Board of Directors has resolved to exercise the authorizations by issuing 1,085,000 new shares of series C to Vator Securites AB and immediately repurchasing all shares of series C. The issue was completed at a price corresponding to the quota value of the shares, and the shares of series C are repurchased for SEK 355,500.
The repurchase of shares of series C is intended to take place in December 2022. The company currently holds no treasury shares. Following completion of the repurchase, the number of shares of series C held by Precise Biometrics will amount to 1,085,000. The shares of series C do not entitle to any dividends.
The repurchased shares of series C are intended to be converted into ordinary shares in connection with the delivery of shares to the participants in LTI 2022/2028, in accordance with the terms and conditions of the incentive program.