Stockholm, Sweden—Nobember 9, 2018— The Board of Directors of I.A.R. Systems Group AB (publ) has on 9 November 2018, in accordance with the authorization granted to the Board of Directors at the Extraordinary General Meeting held on 15 June 2018, resolved to issue up to 359,688 Class C shares at a subscription price of SEK 10, corresponding to the quota value of the share. The newly issued shares may be subscribed for by a bank or stockbroker from time to time appointed by IAR to assist in administration of the incentive schemes of the I.A.R Systems Group AB (publ). The shares must be subscribed for no later than 12 November 2018.
The Board of Directors has in connection with the above resolution to issue the shares also resolved to repurchase all issued Class C shares, at a price of SEK 10. The purpose of the share issue and the repurchase of the Class C shares is to secure delivery of shares to employees in connection with the exercise of stock options pursuant to incentive schemes of the group and to enable cash flow to secure future payment of social security contributions attributable to these incentive schemes. Prior to any delivery of shares pursuant to the incentive schemes of the group, I.A.R Systems Group AB (publ) will convert Class C shares into Class B shares. Class C shares are not entitled to any dividend payments.
IAR Systems Contacts
Josefin Skarin, Investor Relations, IAR Systems Group AB
Stefan Skarin, CEO and President, IAR Sy
stems Group AB
This information is information that I.A.R Systems Group AB (publ) is obliged to make public pursuant to the Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact persons set out above, at 16:00 CET on November 9, 2018.
IAR Systems supplies future-proof software tools and services for embedded development, enabling companies worldwide to create the products of today and the innovations of tomorrow. Since 1983, IAR Systems’ solutions have ensured quality, reliability and efficiency in the development of over one million embedded applications. The company is headquartered in Uppsala, Sweden and has sales and support offices all over the world. IAR Systems Group AB is listed on NASDAQ OMX Stockholm, Mid Cap. Learn more at www.iar.com.