STOCKHOLM, Sweden, Dec. 13, 2002 (PRIMEZONE) -- The Board of Mandamus (Other OTC:MNDMF) decided to require Anders Johansson's resignation as Mandamus' Managing Director. The reason for this decision is disagreement with Mandamus' largest owner, Akelius Insurance, on the company's strategy. The Chairman and Bjorn Hall have entered reservations to the decision.
Anders Johansson will resign from his position as MD at year-end. The company's Deputy Managing Director, Bengt Evaldsson, has been appointed Acting Managing Director until a permanent MD appointment is made.
Comments from Mandamus' Chairman, Leif Zetterberg:
Over his nearly 10 years as Managing Director of Mandamus, Anders Johansson's management of the company has been exemplary. As shareholders, we have every reason to appreciate his contribution. I therefore regret that the Board majority has taken this decision.
Comments from Anders Johansson:
Collaborating with Akelius' representatives on the Board of Mandamus has been difficult throughout the autumn, and it therefore does not entirely surprise me that the Board majority now deems that I should vacate my position as MD of Mandamus Fastigheter AB. Since I reach the age of 60 next year and had planned to retire on that date, the majority Board decision means only that my retirement is brought forward by a few months.
Queries
Please address any queries to: Leif Zetterberg +46-8-787 54 69 Anders Johansson +46-8-566 13000 Bengt Evaldsson +46-8-566 130 00
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, on a long-term basis. Mandamus owns properties with a book value of around SEK 5,800m, yielding an annual rental income of some SEK 900m.
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