VARNAMO, Sweden, April 24, 2003 (PRIMEZONE) -- Finnveden's Annual General Meeting, April 24:
No dividend
It was resolved at the Annual General Meeting on April 24 that no dividend shall be distributed for the fiscal year 2002.
Election of Board of Directors
Tommy Boork, Anders Holmberg, Kurt Jofs, Hans Johansson and Kersti Thorn were re-elected members of the Board of Directors and Ulla-Britt Frajdin- Hellqvist and Gunnar Larsson were elected new members.
Ulla-Britt Frajdin-Hellqvist (age 49) is part of the management of Svenskt Naringsliv and has previously inter alia held the positions of Quality Manager, Environment Manager and Administrative Manager at Volvo PV. Ulla-Britt Frajdin-Hellqvist is a member of the board of directors of SinterCast AB, Enea Data AB, Ruter Dam, Time Development Sweden AB, and, representing Svenskt Naringsliv, of Prevent, Formens Hus and Svenskt Naringsliv Supportbolaget.
Gunnar Larsson (age 61) works since 1996 in his own company R & D Consulting and has previously held various positions within the Volkswagen group, Audi AG, Volvo Monitoring & Concept Centre, USA and SAAB. Gunnar Larsson is chairman of the board of directors of Evidente AB and board member of Alignment Systems AB, Automation Press and Tooling, IWS Internatiol Oy (Finland) and Novaseptic AB.
Kurt Jofs was elected Chairman of the Board of Directors at the statutory Board meeting.
Amendment of articles of association
The articles of association were amended, to the effect that the seat of the board shall be Goteborg and that Annual General Meetings shall be held in Goteborg, Varnamo, Stockholm, Hallstahammar, Olofstrom or Trollhattan.
Election of Nomination Committee
Mats Guldbrand (AMF Pension) and Gunnar Ek (Swedish Share Savers Association) were re-elected members, and Hans Johansson (board member since 1994) was elected new member, of the Nomination Committee before the next Annual General Meeting.
Remuneration and Audit Committee
The Board of Directors was instructed to form a remuneration committee and an audit committee to be composed of Directors of the Board.
Finnveden AB (publ)
For additional information, please call: Tommy Boork, CEO of Finnveden, +46 31 734 59 00
Finnveden is an international engineering group, with strong market positions in the automotive industry. Products include fasteners, engine components and sheet-metal components. Finnveden is listed on Stockholmsborsen (Stockholm Exchange) and has annual sales of about SEK 4.5 billion, with 3,500 employees. Additional information is available on Finnveden's website: www.finnveden.se
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The following files are available for download:
http://www.waymaker.net/bitonline/2003/04/24/20030424BIT01350/wkr0001.doc
http://www.waymaker.net/bitonline/2003/04/24/20030424BIT01350/wkr0002.pdf