As a part of the redemption procedure approved by the annual general meeting April 4, AB Volvo carried out a share split where each share was split into six shares, of which one redemption share. Upon completion of the redemption procedure the redemption shares are redeemed at a redemption price of SEK 25 per share (about U.S. $3.66). Volvo’s share capital is restored to the same level as prior to the redemption procedure.
The redemption procedure means that BSEK 10.12 (U.S. $1.48 billion) will be distributed to Volvo’s shareholders, equivalent to SEK 25 (U.S. $3.66) per share that is not held by the company. Payment to the shareholders is expected to take place May 28.
Since April 26 2007, the Volvo share is traded in lots of 100 shares.
The Volvo Group is a leading manufacturer of trucks, buses and construction equipment; drive systems for marine and industrial applications; and aerospace components and services. The Group also provides complete solutions for financing and service. The Volvo Group is a publicly held company headquartered in Göteborg, Sweden.