(ELUX) The application period for participation in the Electrolux
redemption offer expired on June 1, 2004. During the application period
497,725 A-shares and 14,681,967 B-shares or a total of 15,179,692 shares
in Electrolux have been tendered for redemption. This corresponds to an
acceptance level in the redemption offer of 99.02%.
Provided that the Extraordinary General Meeting on June 16, 2004 passes
the requisite resolutions for the implementation of the redemption offer
and that these resolutions are registered by the Swedish Patent and
Registration Office (PRV), approximately
SEK 3,036m will be paid to the shareholders.
The resolutions to be adopted at the Extraordinary General Meeting are
a) Resolution on a reduction of Electrolux share capital by SEK
75,898,460 through redemption of 497,725 A-shares and 14,681,967 B-
b) Resolution on an increase in Electrolux share capital by SEK
75,898,460 through a new issue of 15,179,692 redeemable C-shares.
c) Resolution on a reduction of Electrolux share capital by SEK
75,898,460 through redemption of 15,179,692 C-shares and transfer to the
The resolutions under b) and c) above enable payment of the redemption
amount to be made without the delay of obtaining court approval.
The Board of Directors’ complete proposal for resolutions under a) – c)
is available at the company, AB Electrolux, C-J, S:t Göransgatan 143, SE-
105 45 Stockholm, Sweden and will be sent to shareholders on request.
The proposal is also available at www.electrolux.com/egm2004
Following the implementation of the redemption offer, the number of
shares in Electrolux will amount to 9,502,275 A-shares and 299,418,033 B-
shares, or a total of 308,920,308 shares, including shares owned by
Electrolux. As of June 8, 2004 Electrolux holding of own shares amounted
to 17,489,400 B-shares.
Trading in redemption shares and payment of redemption amount
Trading in redemption shares begins June 10, 2004 and ends around June
Redemption shares will be redeemed against cash payment of SEK 200 per
redemption share following the registration of requisite resolutions
passed by the Extraordinary General Meeting on June 16, 2004. The
redemption amount is scheduled to be paid to shareholders around June
The average price for redemption rights sold free of commission was SEK
2.62 per redemption right. The proceeds of the redemption rights sold
free of commission were paid to shareholders around June 3, 2004.
The Electrolux Group is the world’s largest producer of powered
appliances for kitchen, cleaning and outdoor use, such as refrigerators, washing machines, cookers, vacuum cleaners, chainsaws, lawn mowers, and
garden tractors. Every year, customers in more than 150 countries buy
more than 55 million Electrolux Group products for both consumer and
professional use sold under famous brands such as AEG, Electrolux, Zanussi, Frigidaire, Eureka and Husqvarna. In 2003, Electrolux had sales
of SEK 124.1 billion and 77,100 employees.
For further information, please contact Investor Relations at +46 8 738
60 03. Electrolux Press Hotline is available at +46 8 657 65 07.