Extraordinary General Meeting on December 12, 2006 resolved upon redemption of shares
On the basis of the strong balance sheet after the spin-off of Husqvarna AB and the strong cash-flow, an Extraordinary General Meeting in December 2006 resolved upon a mandatory redemption of shares at SEK 20 per share in accordance with the proposal by the Board of Directors. This corresponded to a capital distribution of SEK 5,579m to Electrolux shareholders. The redemption amount was paid to the shareholders at the end of January 2007.
The purpose of the redemption procedure was to adjust the Group’s capital structure and thereby contribute to increased shareholder value.
After the capital distribution, the Group has a capital structure that will provide the flexibility that is necessary for the Group to implement its strategy, which includes investments in product development, building the Electrolux brand and conducting restructuring measures as well as growth through possible acquisitions.