STOCKHOLM, Jan. 16, 2024 /PRNewswire/ -- Following
Euroclear Sweden's termination of its agreement to act as
Withholding Agent, Autoliv, Inc. (NYSE: ALV) and (SSE:
ALIVsdb) today announces upcoming changes to its Autoliv, Inc.
Swedish Depository Receipts (SDRs). The SDRs will receive a new
ISIN[1] code as of February
29, 2024, with updated terms and conditions. Skandinaviska
Enskilda Banken (SEB) will assume the role as Withholding Agent in
its capacity as issuer of Autoliv SDRs.
As Euroclear Sweden is no longer the Withholding Agent, it is
necessary to change the ISIN code to enable SEB to serve as the new
Withholding Agent. As of the date the new ISIN is effective, it
will no longer be possible to hold Autoliv SDRs as owner registered
holdings in a CSD account (Swedish: VP konto) with Euroclear
Sweden. Such owner registered holdings in CSD accounts either (i)
must be transferred to a custody account with a bank, or securities
institution, which holds the role as nominee in Euroclear Sweden
prior to February 29, 2024 or (ii)
such Autoliv SDRs will automatically be converted to Autoliv Common
Stock which is denominated in U.S. dollars and traded on the New
York Stock Exchange. Affected SDRs holders will receive separate
information around this by mail from Computershare but can also
retrieve information on Autoliv's website as outlined below.
In order for you as owner of Autoliv SDRs to not be subject to
so-called double taxation of potential future Autoliv dividends,
your bank/custodian/nominee needs to be a Qualified Intermediary
(QI) with a tax agreement with the US Internal Revenue Service
(IRS). If your bank/custodian/nominee does not have a QI tax
agreement with the IRS, higher US withholding tax will be charged
to dividends than if your bank/custodian/nominee has a QI
agreement. It is therefore important that you contact your
bank/custodian/nominee that holds your SDRs to ensure that it has a
QI agreement [2].
The record date for the ISIN change is February 29, 2024. The last day of trading for
the current ISIN code is February 27,
2024. The first day of trading on Nasdaq Stockholm with the
new ISIN code is February 28, 2024.
During the period of February 26 thru
February 29, 2024, it will not be
possible to convert between Autoliv SDRs and Autoliv, Inc. Common
Stock traded on the New York Stock Exchange.
More information, including the updated terms &
conditions, will be made available on Autoliv's website:
(http://www.autoliv.com/investors/share/SAUDR).
Inquiries:
Investors & Analysts: Anders
Trapp, Tel +46 (0)8 587 206 71
Investors & Analysts: Henrik
Kaar, Tel +46 (0)8 587 206 14
[1] ISIN is a unique code for identifying
securities.
[2] The foregoing information is of a general nature and
is not intended to constitute tax advice. Investors are asked to
consult their own advisors regarding the specific tax consequences
for each investor due to dividends, including the application and
effect of U.S. and foreign tax laws.
About Autoliv
Autoliv, Inc. (NYSE: ALV) (Nasdaq Stockholm: ALIV.sdb)
is the worldwide leader in automotive safety systems. Through
our group companies, we develop, manufacture and market protective
systems, such as airbags, seatbelts, and steering wheels for all
major automotive manufacturers in the world as well as mobility
safety solutions, such as pedestrian protection, connected safety
services and safety solutions for riders of powered two wheelers.
At Autoliv, we challenge and re-define the standards of mobility
safety to sustainably deliver leading solutions. In 2022, our
products saved close to 35,000 lives and reduced more than 450,000
injuries.
Our close to 70,000 associates in 27 countries are passionate
about our vision of Saving More Lives and quality is at the heart
of everything we do. We drive innovation, research, and development
at our 14 technical centers, with their 20 test tracks. Sales in
2022 amounted to US $ 8.8 billion.
For more information go to www.autoliv.com.
Safe Harbor Statement
This report contains statements that are not historical facts
but rather forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include those that address activities,
events or developments that Autoliv, Inc. or its management
believes or anticipates may occur in the future. All
forward-looking statements are based upon our current expectations,
various assumptions and data available from third parties. Our
expectations and assumptions are expressed in good faith and we
believe there is a reasonable basis for them. However, there can be
no assurance that such forward-looking statements will materialize
or prove to be correct as forward-looking statements are inherently
subject to known and unknown risks, uncertainties and other factors
which may cause actual future results, performance or achievements
to differ materially from the future results, performance or
achievements expressed in or implied by such forward-looking
statements. Numerous risks, uncertainties and other factors may
cause actual results to differ materially from those set out in the
forward-looking statements, including general economic conditions
and fluctuations in the global automotive market. For any
forward-looking statements contained in this or any other document,
we claim the protection of the safe harbor for forward-looking
statements contained in the Private Securities Litigation Reform
Act of 1995, and we assume no obligation to update publicly or
revise any such statements in light of new information or future
events, except as required by law.
The following files are available for download:
https://mb.cision.com/Main/751/3909842/2541542.pdf
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