STOCKHOLM, Sweden, June 27, 2003 (PRIMEZONE) -- OM AB (Other OTC:OMGPF): EDX London, a new equity derivatives business jointly owned by London Stock Exchange plc and OM AB, will begin trading Scandinavian equity derivatives on Monday June 30, 2003. Completion follows EDX London's approval as a Recognised Investment Exchange by the Financial Services Authority.
EDX London will pay OM a consideration of up to (Pounds) 24.0 million for the transfer of the Scandinavian equity derivatives business of OM London Exchange. An initial payment of (Pounds) 12.8 million will be paid on completion, with an additional payment of up to (Pounds) 11.2 million payable on achievement of certain revenue targets by EDX London by December 31, 2005.
London Stock Exchange holds a 76 per cent controlling stake in the new company and OM holds a 24 per cent interest through its subsidiary Stockholmsborsen AB. Investment in EDX London will be pro rata.
For more information please contact:
LSE John Wallace Media +44 (0)20 7797 1222
Paul Froud Investor Relations +44 (0)20 7797 3322
OM Anna Eriksson Media +46 (0)8 405 66 12
Jakob Hakanson Investor Relations +46 (0)8 405 60 42
Notes to editors:
OM London Exchange, which will continue to own and operate UK Power Exchange (UKPX), will continue to operate as a subsidiary of OM.
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http://www.waymaker.net/bitonline/2003/06/27/20030627BIT00780/wkr0001.pdf