STOCKHOLM, Sweden, Feb. 19, 2004 (PRIMEZONE) -- NeoNet, an international agency broker providing efficient electronic equity execution services for the institutional investor industry, today announced that transaction revenues for January 2004 increased by 47 percent and amounted to SEK 20.9 m compared with SEK 14.2 m for January 2003.
The Board of Directors of NeoNet AB has decided to announce the revenues for January 2004 in connection to the extraordinary shareholders' meeting today voting on the proposed issue of a debenture loan with detachable warrants. The purpose of the announcement is to give the extraordinary shareholders' meeting updated information complementing the full-year report (posted 12 February 2004).
NeoNet's transaction revenues amounted to SEK 20.9 m for January 2003 (SEK 14.2 m). This is an increase by 47 percent.
"The significant increase in revenues during January is not just satisfying but also shows that there is good potential for improved earnings this year," said Staffan Persson, acting CEO of NeoNet. "The proposed new issue of a debenture loan with detachable warrants is primarily motivated by the need to satisfy the capital requirements connected to our increase in turnover. To refrain from a new issue and thereby from the possibility to increase the traded volumes is inconceivable. In the long run, we expect that re-negotiated terms and arrangements for purchased settlement services will also facilitate continued expansion."
For further information, please contact: Staffan Persson Acting CEO of NeoNet +46 8 454 15 51 staffan.persson@neonet.biz
Since inception in 1996 NeoNet has focused on efficient and neutral agency brokerage. NeoNet provides the institutional investor industry with execution services offering a single point of access to leading equity marketplaces worldwide. Clients can execute orders using electronic direct market access or through NeoNet's international trading desks. NeoNet has offices in Stockholm, New York and London, is listed on the Stockholm Stock Exchange (ticker NEO), and has clients in more than 15 countries globally.
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The following files are available for download:
http://www.waymaker.net/bitonline/2004/02/19/20040219BIT00120/wkr0001.doc
http://www.waymaker.net/bitonline/2004/02/19/20040219BIT00120/wkr0002.pdf