Kinnevik to distribute MTG shares next week

Kinnevik to distribute MTG shares next week

Swedish tech investor, Kinnevik AB said the Extraordinary General Meeting of Kinnevik resolved on 16 July 2018 to distribute all of Kinnevik’s shares in MTG to the shareholders of Kinnevik.

The Board of Directors was authorised by the EGM to resolve on the record date for the distribution, with the condition that the record date may not be set to a day prior to all of Kinnevik’s MTG class A shares having been reclassified into MTG class B shares.

This condition was fulfilled on 1 August 2018 when the Swedish Companies Registration Office (Sw. Bolagsverket) and Euroclear Sweden registered the reclassification. Kinnevik’s Board of Directors has now set the record date for the distribution to 10 August 2018.

The last day of trading in Kinnevik shares including the right to receive distributed shares in MTG is 8 August 2018.

As of 9 August 2018, the Kinnevik share will be traded without the right to receive shares in MTG. The MTG class B shares are expected to be distributed to Kinnevik’s shareholders on or around 14 August 2018.