STOCKHOLM, Sweden, Feb. 13, 2002 (PRIMEZONE) -- The final date of application for conversion of CPNs to shares in Industrivarden was January 31, 2002. The total number of CPNs submitted for conversion following the decision to prematurely terminate the CPN loan, increases the total number of shares by 21,356,772 shares.
For the purpose to simplify Industrivarden's share structure, facilitate the valuation of the company and enhance the liquidity of Industrivarden's stock, an extraordinary general meeting held on October 25, 2001 decided to prematurely terminate the company's CPN loan for repayment on February 28, 2002.
The total number of CPNs that have been submitted for conversion after October 25, 2001 increases the number of shares in Industrivarden by 12.4 percent to 193,135,612 shares. The number of Class A shares will increase by 7.4 percent to 134,273,702 shares, and the number of Class C shares will increase by 25.7 percent to 58,861,910 shares. Of the total amount of outstanding CPNs at the time of the decision by the extraordinary general meeting 99.9 percent have been submitted for conversion. The portion of the loan that has not been submitted for conversion to shares will be repaid on February 28, 2002 and amounts to SEK 0.3 million.
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