STOCKHOLM, Sweden, Oct. 1, 2003 (PRIMEZONE) -- WM-data Aktiebolag (publ) (Other OTC:WMDTF): The Board of Directors of WM-data AB has decided to propose an Extraordinary General Meeting held on November 4 2003 to, with waiver of the shareholders' preferential rights, issue a convertible debenture loan to be subscribed by employees of the WM-data Group. The reason for the proposal is that a long-term ownership involvement by WM-data's employees is expected to enhance motivation and increase solidarity with the company.
The propose main terms and conditions for the issue of the convertible debenture loan are as follows:
-- The offer is proposed to be made to all employees in the
WM-data Group, as well as employees in certain associated
companies, in Sweden, Denmark, Finland and Norway.
-- The loan amounts to a maximum of SEK 230 M and carries an
annual interest from December 22, 2003 to and including
November 30, 2008 corresponding to STIBOR less 0.80
percentage points.
-- The loan can be converted to Series B shares from and
including May 2, 2007 through October 31, 2008.
-- Each employee is entitled to subscribe for at least one lot
and not more than 80 lots and is guaranteed subscription
of 5 lots. One lot corresponds to a maximum value of
SEK 5,000.
-- The conversion price will be set at about 130 to 140 percent
of the average quotation on the stock exchange for the
WM-data share during the period November 10-14, 2003.
-- The dilution effect as a result of the proposed convertible
program is estimated to amount to a maximum of about
2.6 percent of the share capital, corresponding to
SEK 9,890,000, and about 1.5 percent of the number of votes.
The maximum dilution effect as a result of the current
proposed convertible loan and the warrants outstanding,
which carry rights to subscribe for 9,469,800 Series B
shares to and including May 28, 2004 at a subscription
price of SEK 71 per share, amounts to about 5 percent of
the share capital and about 2.9 percent of the voting rights.
For more detailed information, refer to the invitation to the Extraordinary General Meeting, which is scheduled to be published on October 3, 2003, and the Board's complete proposal, which will be available from October 21, 2003, and will be published on WM-data's website, www.wmdata.com.
For further information please contact: Camilla Oberg, Vice President Investor Relations, WM-data +46 8-671 02 42 cellphone: 0733-98 50 01 E-mail: camilla.oberg@wmdata.se Rickard Petri, CFO, WM-data +46 8-671 66 40 E-mail rickard.petri@wmdata.se
WM-data was founded in 1969 and is one of the leading IT companies in the Nordic region today. Through a broad offering of design and IT- related services, we create increased efficiency and tangible benefits for our customers. Annual sales amount to approximately SEK 7,000 million, with approx. 6,000 employees. For additional information, visit our website:www.wmdata.com
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The following files are available for download:
http://www.waymaker.net/bitonline/2003/10/01/20031001BIT01000/wkr0001.doc
http://www.waymaker.net/bitonline/2003/10/01/20031001BIT01000/wkr0002.pdf