-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RKo81SrgH6RfjRuVAxAFYfYIPqkv7o5/T/cQ5H5gOTA48YKs+wQVR8y/YGzaB+3d F0jQLtaLzMVC8OxATjOt1A== 0001157523-07-000747.txt : 20070130 0001157523-07-000747.hdr.sgml : 20070130 20070130110704 ACCESSION NUMBER: 0001157523-07-000747 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070130 FILED AS OF DATE: 20070130 DATE AS OF CHANGE: 20070130 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SKF INC CENTRAL INDEX KEY: 0000777504 STANDARD INDUSTRIAL CLASSIFICATION: BALL & ROLLER BEARINGS [3562] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-13722 FILM NUMBER: 07563414 BUSINESS ADDRESS: STREET 1: HORNSGATEN 1 S-415 50 CITY: GOTEBORG SWEDEN STATE: V7 ZIP: ----- BUSINESS PHONE: 2125592107 MAIL ADDRESS: STREET 1: SE 415 50 GOTEBORG CITY: SWEDEN STATE: V7 ZIP: 9999999999 6-K 1 a5321201.htm SKF 6-K Unassociated Document
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 
Washington, D.C. 20549 
 
 
 
FORM 6-K

 
 
REPORT OF FOREIGN PRIVATE ISSUER
 
Pursuant to Rule 13a-16 or 15d-16 of
The Securities Exchange Act of 1934
 
January 30, 2007
 
 
 
SKF
(Exact name of registrant as specified in its charter)
 
Hornsgatan 1 Goteborg, Sweden 
(Address of principal executive offices)
 
000-13722
(Commission File Number)

 
Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F:
 
Form 20-F / x /
  
Form 40-F /  /
 
Indicate by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
 
Yes /   /
  
No / x /
 
 
On January 30, 2007 the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference
 
(c) Exhibit 99.1. Press release dated January 30, 2007
 
 
Pursuant to the requirements of the Securities Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
   
SKF
   
(Registrant)
     
January 30, 2007
 
/s/ LARS G MALMER
(Date)
  
Lars G Malmer
   
Sr. Vice President, Group Communication
EX-99.1 2 a5321201ex99_1.htm EXHIBIT 99.1 PRESS RELEASE Exhibit 99.1 Press release
Exhibit 99.1
 
SKF: The Board of Directors' Proposals of a Share Split and Redemption Procedure and for an Authorization for the Board to Decide upon the Repurchase of the Company's Own Shares

The Board of Directors' Proposal of a Share Split and Redemption Procedure

STOCKHOLM, Sweden--(BUSINESS WIRE)--Jan. 30, 2007--Due to the Company's strong performance, cash generation capacity and outlook, the Board of Directors of SKF (NASDAQ:SKFR) (LSE:SKFB) (STO:SKFA) (STO:SKFB) proposes a share split 2:1 combined with an automatic redemption procedure. Through this procedure the shareholders will
receive one new ordinary share and one redemption share, which will be redeemed for SEK 10. The proposal means that SEK 4,554 million will be distributed to the shareholders, in addition to the proposed dividend distribution.

In brief,

-- The Company carries out a share split 2:1.

-- Every other share, the redemption share, is redeemed automatically for SEK 10.

-- The proposed record day for the split is 18 May 2007.

-- For shareholders interested in selling their redemption shares before redemption takes place, trading in these shares is proposed to take place on Stockholm Stock Exchange during the period 21 May - 7 June 2007.

-- Payment of the redemption amount is proposed to be made 15 June 2007.

The redemption procedure is subject to resolutions by the Annual General Meeting in April 2007 on, in principle, the following:

-- Amendment of the Articles of Association, so that the permitted range of the share capital is reduced from a minimum of SEK 1.1 billion and a maximum of SEK 4.4 billion to a minimum of SEK 500,000,000 and a maximum of SEK 2 billion.

-- Share split, through which each existing share, of series A as well as of series B, will be divided into two shares, of which one will be named redemption share.

-- Reduction of the share capital for repayment to the shareholders by way of redemption of 455,351,068 redemption shares, whereby shares of series A and series B will be redeemed in proportion to the number of shares of the respective series issued.

-- Increase of the share capital by SEK 569,188,835 by way of a bonus issue, whereby the Company's non-restricted equity is to be made use of.

The Board of Directors' proposal for an authorization for the Board to decide upon the repurchase of the Company's own shares.

The Board of Directors proposes that the Annual General Meeting resolves to authorize the Board to, until the next Annual General Meeting, decide upon the repurchase of the Company's own shares. The intention with the proposal is to be able to adapt the capital structure of the Company to the capital needs of the Company and in order thereby to contribute to an increased shareholder value. If shares are repurchased, the Board intends to cancel such own shares through reduction of the share capital.

According to the proposal the authorization shall concern shares of series A as well as series B. The maximum amount of shares to be repurchased, is so many shares that, the Company thereafter holds a maximum of 5% of all shares issued by the Company. The shares may be repurchased by operations on Stockholm Stock Exchange. No SKF shares
are currently owned by the Company.

Goteborg, 30 January 2007

Aktiebolaget SKF (publ.)

The SKF Group is the leading global supplier of products, solutions and services in the area comprising rolling bearings, seals, mechatronics services and lubrication systems. The Group's service offer also includes technical support, maintenance services, condition monitoring and training.

The Group's annual sales 2005 were SEK 49.3 billion with an operating margin of 10.8%. The number of employees was 38 700.

The following files are available for download:

http://wpy.waymaker.net/client/waymaker1/WOLReleaseFile.aspx?id=368328&fn=wkr0001.pdf

(Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)

This information was brought to you by Waymaker
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CONTACT: Aktiebolaget SKF
Tel. +46 31 337 10 00
Fax. +46 31 337 17 22
www.skf.com
or
SKF Group Communication
Lars G Malmer, Tel. +46 (0)31 337 1541
Lars.G.Malmer@skf.com
or
SKF Investor Relations
Marita Bjork, Tel. 031-337 1994
Marita.Bjork@skf.com


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