The General Meeting's resolution of the 28 June to redeem 9,787,361 shares due to the redemption offer and to withdraw 16,522,000 previously repurchased shares has now been registered.
The procedure implies that the company's share capital is reduced by SEK 157,856,166 at the same time as approximately SEK 4 billion is distributed to the company's shareholders and SEK 99,132,000 shall be transferred to the statutory reserve.
Further, the 26,309,361 C-shares that the General Meeting decided to issue to Svenska Handelsbanken, in order to reduce the time expenditure involved in the reduction, have been redeemed at a nominal value of SEK 6 per share, adjusted by an interest rate factor. The reduction also involves transfer of SEK 157,856,166 from the company's non-restricted equity to the statutory reserve.
After the reduction, Sandvik AB´s share capital will amount to SEK 1,423,544,610 and the number of issued shares to 237,257,435.
Sandviken, 4 July 2005
Sandvik AB; (publ)