STOCKHOLM, Sweden, March 13, 2003 (PRIMEZONE) -- Billerud AB's (Other OTC:BLRDY) (Other OTC:BLRDF) Board decided today to propose to the Annual General Meeting on 6 May to reduce the company's share capital by SEK 60,387,500, which corresponds to the around 4.8 million Billerud shares owned by the company itself.
The Board also decided to propose to the AGM that authorisation be given to the Board to buy back an additional 10% of share capital after the reduction. The purpose is to adjust the capital structure in line with the company's financial targets. The proposal will state that the bought- back shares may be used in connection with a company acquisition.
Billerud AB (publ) Bert Ostlund President & CEO +46 8 553 335 00 or +46 70 518 2757 Nils Lindholm, CFO +46 8 553 335 07 or +46 70 217 5225
For further information about Billerud, please visit www.billerud.com.
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2003/03/13/20030313BIT00680/wkr0001.doc
http://www.waymaker.net/bitonline/2003/03/13/20030313BIT00680/wkr0002.pdf