At the Annual General Meeting 2011, Investor’s Board of Directors communicated that it had initiated a review of introducing a conversion clause in Investor AB allowing shareholders to convert class-A shares to class B-shares. The Board of Directors would revert with a recommendation ahead of the AGM 2012.

The Board’s review acknowledges certain advantages of a conversion clause including an increased flexibility and liquidity for A-shareholders and a potential elimination of the price discrepancy of A-shares and B-shares. However, the Board’s view is that an introduction of a conversion clause could also entail disadvantages for some of Investor’s shareholders. For example, it cannot be precluded that an increase in the value of the A-shares (elimination of a negative spread), would be compensated by a corresponding decrease of the value for the B-shares, i.e. there could be an economic value transfer from the holders of B-shares to holders of A-shares. Introducing a conversion...