Swedish tool maker Seco Tools AB (SECO-B.SK) said Wednesday that at the request of Sandvik AB (SAND.SK), it has resolved to apply for delisting of the company's class B share that is listed on NASDAQ OMX Stockholm.

 
   MAIN FACTS:

-At the request of Sandvik, the board of Seco Tools has also resolved to convene an EGM to be held on Feb. 17, 2012 for the purposes of electing a new board.

-Following Sandvik's public offer to the shareholders of Seco Tools, Sandvik controls approximately 98.7% of the shares and 99.6% of the votes in Seco Tools. Sandvik has also requested a squeeze-out of the Seco Tools shares that are not held by Sandvik (including subsidiaries).

-The last day of trading in the company's class B shares on NASDAQ OMX will be announced as soon as the company has received confirmation from NASDAQ OMX.

-Shares closed Tuesday at SEK117.10.

-By Dominic Chopping; Dow Jones Newswires; +46-8-5451-3093; dominic.chopping@dowjones.com

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