Press release - AB Volvo
In a letter to AB Volvo’s Board of Directors ahead of the Annual General Meeting (AGM) on April 6 this year, AB Volvo’s two largest shareholders – Renault S.A. and Industrivärden – have proposed an addendum to AB Volvo’s articles of association that would permit voluntary conversion of Series A to Series B shares. Any amendment of the articles of association requires the support of shareholders representing at least two thirds of the shares and voting rights at the AGM.
In the letter, both shareholders propose the inclusion of a new clause in AB Volvo’s articles of association that – following a request to the Board of AB Volvo – permits Series A shareholders to convert their Series A to Series B shares.
Renault S.A. holds shares in Volvo corresponding to 6.8 percent of the share capital outstanding and 17.5 percent of the voting rights outstanding. Industrivärden’s shareholding corresponds to 4.6 percent of the share capital outstanding and 11.1 percent of the voting rights outstanding.
January 27, 2011
Reporters who want more information, please contact Mårten Wikforss, +46 31 66 11 27 or +46 705 59 11 49