STOCKHOLM, Sweden, Feb. 11, 2002 (PRIMEZONE) -- Mandamus has sold its entire holding of its own shares, corresponding to 3.04 percent of the total number of shares issued. The sale took place at an average price of SEK 68.50, and the company's total holding of its own shares after this sale is zero.
The purpose of the sale was to facilitate financing of planned property acquisitions. All other things being equal, the sale means a rise of just under SEK 43m in group shareholders' equity to SEK 1,386m. The visible equity ratio, which was 22.8 percent at year-end, has now risen to 23.4 percent.
Mandamus is a property company that aims to own, develop and manage residential properties with a high yield, mainly in growth areas in Southern and Central Sweden. Mandamus owns properties with a book value of around SEK 5,700m, yielding an annual rental income of some SEK 900m. The company also part-owns and manages a property stock with a book value of around SEK 1,400m and a rental income of around SEK 250m annually.
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