KRISTIANSTAD, Sweden, April 26, 2002 (PRIMEZONE) -- With the object of strengthening the Bong Ljungdahl Group's capital base and to finance further growth and consolidation of the Group's position as the leading company on the European envelope market, Bong Ljungdahl's Board decided today to go ahead with the planned rights issue, subject to the proposal obtaining the consent of an Extraordinary General Meeting.
The intention is to hold the EGM on May 14, 2002, immediately after the AGM.
Under the terms of the rights issue shareholders will be entitled to subscribe to one new share at a price of 35 kronor of every two shares they already own. A maximum of 4,334,995 new shares will be issued as a result of the issue, the proceeds of which will amount to a maximum of 151,7 million kronor (before issue costs and assuming no further conversions of the company's 1998/2002 convertible loan stock).
Bong's principal shareholders -- Melker Schorling and companies controlled by him; Alf Tonnesson, his family and companies controlled by him; and members of the Bong, Bjurman and Sigfrid families -- who together represent more than 60 percent of the shares in the company, have expressed their support for the proposed rights issue, and will vote in favor of the proposal at the coming EGM. Melker Schorling and his companies, who represent 25.5 percent of the shares in the company, have undertaken to subscribe for their full entitlement of shares, and to guarantee a further 20 percent of the issue.
Time schedule for rights issue
EGM May 14, 2002
Bong shares go ex-rights May 16, 2002
Date of record for entitlement to rights May 21, 2002
Publication of prospectus May 23, 2002
Trading in rights May 28-June 13, 2002
Subscription period May 28-June 18, 2002
Handelsbanken Securities is acting as advisor to Bong Ljungdahl in connection with the issue.
For more detailed information, reference is made to the notice convening the EGM, which is expected to be published on April 29, 2002.
The rights issue is not directed to shareholders in the United States of America or Canada or other countries where participation requires measures in addition to those required under Swedish law.
For further information, contact: Lennart Pihl, President and CEO of Bong Ljungdahl +46 44 20 70 50/ mobile 046 705 94 68 66 email: lennart.pihl@bongljungdahl.se
The address of Bong Ljungdahl's website is www.bongljungdahl.se
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