STOCKHOLM, Sweden, April 19, 2002 (PRIMEZONE) -- Custos:
-- The Annual General Meeting fixed the dividend for 2001 at SEK 14.50
per ordinary share (for 2000: SEK 16.50).
-- The Meeting approved a reduction in the Company's share capital
through redemption of ordinary shares, with a payment of SEK 250
per share redeemed.
-- The Meeting authorized the Board to carry out synthetic buy- backs
of Custos' own shares.
Decisions at the Annual General Meeting
Dividend
The Annual General Meeting fixed the dividend for the 2001 financial year at SEK 14.50 per ordinary share (for 2000: 16.50) and the record date on April 24, 2002. The dividend is expected to be paid on April 29, 2002.
Redemption of ordinary shares in Custos for payment in cash
The Annual General Meeting approved a reduction in Custos' share capital by MSEK 134.1 ("the reduction amount") through redemption of 5,362,742 ordinary shares. The purpose of the reduction in share capital through redemption of ordinary shares is repayment to the shareholders of a cash redemption payment of SEK 250 per ordinary share redeemed. The total redemption payment amounts to MSEK 1,340.7. Custos shall withdraw MSEK 1,206.6 from its unrestricted equity to cover the portion of the redemption payment exceeding the reduction amount.
The disbursement of the redemption payment will occur around May 8, 2002.
Furthermore, the Annual General Meeting approved an increase in the Company's share capital of MSEK 134.1 through a new issue of 5,362,742 Series C shares targeted to Svenska Handelsbanken AB ("SHB"). The purpose of this targeted new issue of Series C shares is to enable the Company to implement the ordinary share reduction procedure efficiently without delay.
The Meeting also approved a reduction in Custos' share capital through redemption of all Series C shares. SHB has pledged to register these shares for redemption. In compliance with Section 4 of the Articles of Association, an amount equivalent to the reduction amount shall be allocated to the statutory reserve. The purpose of the reduction in Custos' share capital is repayment to SHB, in its capacity as a holder of Series C shares in Custos, in an amount equivalent to the nominal (par) amount of the shares plus an interest factor.
After completion of the redemption procedure, Custos' share capital will amount to MSEK 205.4, divided into 8,214,268 ordinary shares.
Resolution in principle concerning synthetic buy-backs of Custos' own shares
The Annual General Meeting approved a resolution to authorize the Board of Directors to carry out synthetic buy-backs of a maximum of 1,500,000 of Custos' own shares, however equivalent to a total amount not to exceed MSEK 400.
Liquidation clause
Furthermore, after consideration in compliance with the Articles of Association, the Annual General Meeting decided that Custos shall not be liquidated.
Board of Directors
Per-Olof Eriksson, Leif Gustafsson, Sven Hagstromer, Magnus Henrekson, Sten K Johnson, Mikael Nachemson and Mats Qviberg were re-elected as members of the Board. At its subsequent statutory meeting, the Board re-elected Sven Hagstromer as its Chairman. The Annual General Meeting approved a resolution that members of the Board of Directors who do not receive a salary from the Company be paid in an unchanged amount totaling MSEK 2.0, to be allocated as determined by the Board.
Information schedule Interim Report, January 1 - June 30 July 17, 2002 Interim Report, January 1 - September 30 October 17, 2002
The Interim Report for January 1 - March 31, 2002 was published earlier today.
This press release is published in Swedish and English. In the event of any difference between the English version and the Swedish original, the Swedish version shall govern.
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