TeliaSonera proposes reduction of the share premium reserve
- 2005-03-09 15:02 UTC
According to the financial statements as of December 31, 2004, TeliaSonera’s consolidated non-restricted equity was approximately SEK 42 billion and the parent company’s non-restricted equity approximately SEK 25 billion. The Board of Directors of TeliaSonera has today decided to propose to the Annual General Meeting of TeliaSonera that the parent company’s share premium reserve, which is included in restricted equity, shall be reduced with SEK 52,681,266,270 and the amount shall be transferred to a non-restricted reserve to be used in accordance with decisions by the general meeting of shareholders. The decision shall be subject to an approval by the district court. The purpose of the reduction of the share premium reserve is to add flexibility in using distributable equity. Following the proposed reduction of the share premium reserve, the share premium reserve will be zero.
Statements made in the press release relating to future status or circumstances, including future performance and other trend projections are forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to many factors, many of which are outside the control of TeliaSonera.