LUND, Sweden--(BUSINESS WIRE)-- Regulatory News:
The Board of Directors of Alfa Laval AB (publ)(STO:ALFA) has decided to withdraw its proposal to the Annual General Meeting, regarding a resolution authorising the Board to buy-back shares in the company, following Alfa Laval’s agreement to acquire Frank Mohn AS.
Alfa Laval announced on April 7, 2014 that an agreement had been signed to acquire Frank Mohn AS. For this reason, the Board of Alfa Laval has decided to withdraw item 17 (encompassing the resolution to authorize the Board to buy back shares in the company) from the agenda of Alfa Laval's Annual General Meeting 2014.
The purpose of the authorization was to enable the Board to adjust the company’s capital structure, after which the Board intended to propose the next Annual General Meeting to approve the cancellation of the shares repurchased by Alfa Laval under the authorization. Given the size of the acquisition of Frank Mohn AS, it is the Board’s assessment that such an authorization is not required for the period until the next Annual General Meeting and the item is therefore withdrawn.
The Annual General Meeting will be held at 4 p.m. CET, April 28, 2014 in accordance with the earlier made notice.
Lund, April 2014
ALFA LAVAL AB (publ)
The Board of Directors
About Alfa Laval
Alfa Laval is a leading global provider of specialized products and engineering solutions based on its key technologies of heat transfer, separation and fluid handling.
The company’s equipment, systems and services are dedicated to assisting customers in optimizing the performance of their processes. The solutions help them to heat, cool, separate and transport products in industries that produce food and beverages, chemicals and petrochemicals, pharmaceuticals, starch, sugar and ethanol.
Alfa Laval’s products are also used in power plants, aboard ships, in the mechanical engineering industry, in the mining industry and for wastewater treatment, as well as for comfort climate and refrigeration applications.
Alfa Laval’s worldwide organization works closely with customers in nearly 100 countries to help them stay ahead in the global arena.
Alfa Laval is listed on Nasdaq OMX, and, in 2013, posted annual sales of about SEK 29.9 billion (approx. EUR 3.45 billion). The company has today about 16,300 employees.
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Alfa Laval AB
Tel: +46 46 36 72 31
Source: Alfa Laval