A proposal has been submitted to the Board of Directors of AB Volvo for a decision at the forthcoming Annual General Meeting to initiate voluntary conversion of A shares to B shares. In contacts with some of AB Volvo’s large owners, shareholders representing more than one third of the total number of votes outstanding have indicated that they will not vote for a reclassification.
A proposal has been made for decision at the forthcoming Annual General Meeting of AB Volvo for a reclassification of the company’s A shares to B shares. Accordingly, AB Volvo investigated the interest for reclassification among some of the company’s owners and determined that shareholders’ representing more than one third of the number of votes outstanding will not saupport the proposal. An approval by the Meeting regarding reclassification requires that two thirds of the number of shares represented at the Meeting and the number of votes cast at the Meeting support the reclassification proposal.
March 8, 2004
For further information, please contact Mårten Wikforss, +46 31 66 11 27, +46 31 705 59 11 49