Convertible Program

Convertibel debenture loans

In order to provide employees at ITAB with the potential to participate in the Group’s development, all employees in 2014 and 2016 were offered the chance to participate in convertible debenture schemes, both with a duration of four years. Both convertible debenture schemes were oversubscribed.

During the period 22 May to 2 June 2014, a subscription for convertible shares was carried out in which all ITAB employees had the right to subscribe, for a total value of SEK 30 million. The allocation totalled 602,004 convertibles, and during the period 1 June 2018 to 11 June 2018 each convertible could be converted to Class B shares at conversion rate of SEK 49.83 (a recalculation has taken place as a result of the implemented share splits). No conversions were conducted and the convertible debenture was repaid at the start of July 2018. As a result of this, no dilution has occurred.

During the period 26 May to 8 June 2016, a subscription for convertible shares was carried out in which all ITAB employees had the right to subscribe, for a total value of SEK 167.7 million. The allocation totalled 1,950,000 convertibles, and during the period 1 June 2020 to 12 June 2020 each convertible can be converted to Class B shares at a conversion rate of SEK 86.