AB SKF Plans Extraordinary General Meeting for Share Distribution
News related to:AB SKF · 2 min read
GOTHENBURG, Sweden, Sept. 7, 2026 /CourierPR/ -- AB SKF, the Swedish industrial manufacturing giant, is convening an Extraordinary General Meeting on October 1, 2026, to address a significant corporate restructuring. The meeting, scheduled to begin at 11:00 AM at Elite Park Avenue Hotel, Kungsportsavenyn 36-38, in Gothenburg, Sweden, is open to shareholders who meet specific participation criteria.
As of September 23, 2026, the company invites shareholders to register their intention to attend by the deadline of September 25, 2026. Participation can be in person, by proxy, or via postal voting. Shareholders must notify the company through one of several channels, including the company's website, phone, email, or postal mail, providing necessary personal details such as name, address, and telephone number.
For those wishing to vote by postal ballot, a special form is available on the company’s website, www.skf.com. The completed and signed form must be received by Computershare AB by September 25, 2026. Shareholders can also cast their votes electronically using Swedish BankID verification. Voting forms and proxy forms will be available for download on the company’s site and can be requested by letter to Computershare AB.
The agenda for the meeting includes the election of a chair for the Extraordinary General Meeting, the approval of the voting list, and the resolution on the distribution of all shares in SKF Vertevo AB. The key proposal is the distribution of shares in SKF Vertevo AB, a wholly-owned subsidiary that embodies the company’s Automotive business, to existing shareholders. The distribution is expected to occur via a Lex Asea mechanism, which allows for tax-free dividends under certain conditions.
According to the Board of Directors, the distribution will be made in a manner that five (5) shares of series A in SKF entitle to one (1) share of series A in SKF Vertevo, and similarly for series B shares. Any fractional shares resulting from the distribution will be combined with other shareholders' fractions and sold on Nasdaq Stockholm, with the proceeds distributed pro rata to shareholders.
The Board proposes that the Extraordinary General Meeting authorizes the Board to determine the record date for the right to receive shares in SKF Vertevo, with the expectation that this will occur on November 27, 2026, and the first trading day on Nasdaq Stockholm is anticipated for December 1, 2026.
To ensure shareholder participation, AB SKF has made available the Nomination Committee's proposal and the Board's proposal. These documents, along with the company's Annual Report and other relevant documents, can be accessed at AB SKF, Sven Wingquists Gata 2, SE-415 50 Gothenburg, Sweden, or through the company’s website, www.skf.com.
The majority requirement for the resolution is that shareholders representing more than fifty percent of the votes cast must be in favor of the proposal.
AB SKF’s decision to separate its Automotive business through this distribution is part of a broader strategy to streamline operations and focus on core business areas, reflecting the company's ongoing commitment to strategic restructuring and growth.