Holmens AGM on 2 April 2008 resolved in favour of an incentive scheme for the Holmen Groups employees. The scheme involved the employees being invited in May 2008 to purchase at market price call options to acquire Series B shares in Holmen.
Some 1,500 of the Groups approximately 5,000 employees have notified their interest in buying a total of some 760,000 call options. The price of each option was fixed at SEK 20 and the exercise price of the options has been fixed at SEK 224.50 per share. Each option entitles the owner to buy one share during the exercise period May/June 2013.
Holmen has bought back shares to secure the companys commitment within the incentive scheme. In total 760,000 shares have been bought back, which corresponds to some 0.9% of the total number of shares in issue, and to some 0.3% of the number of votes in Holmen AB. The average price paid for the shares purchased was SEK 201.70.
Prior to the buy-back Holmen AB had a total of 84,756,162 shares in issue carrying 288,365,268 votes.