MALMO, Sweden, May 6, 2003 (PRIMEZONE) -- Today, May 6, 2003, the shareholders of AudioDev AB (publ.) held an annual general meeting in Malmo.
The meeting adopted the Annual Report and consolidated financial statements and agreed to the disposal of unappropriated earnings for the year as proposed in the director's report. The meeting discharged the Board of Directors and the President from liability for the financial year.
In his speech, Jan Barchan, leaving CEO of AudioDev, apprised the meeting of operations during the year 2002. He then commented on the first quarter of the year and discussed the market situation. In connection with the meeting Peter Ragnarsson took over as CEO for AudioDev.
The resolution was passed that the Board of Directors should continue to comprise five ordinary members and one deputy member. Re-elected as ordinary members of the Board were Sven Ohlsson, Jan Barchan, Goran Barsby, Per Ludvigsson and Thomas Vonheim. Peter Oscarsson was re-elected deputy member. Remuneration was fixed at SEK 450,000 to be distributed among Board members.
The ordinary general meeting approved the dividend of SEK 0.75 per share proposed by the Board and President. Reconciliation day for dividends is May 9, 2002. It is anticipated that dividends will be sent out by VPC on May 14, 2003.
The ordinary general meeting decided to empower the board with the option of acquiring up to 1,670,000 own B-shares on one or more occasions over the period up to the next ordinary general meeting. Acquisition of own shares is to be done on the Stockholm exchange at a price per share at the registered rate of exchange for each occasion.
The ordinary general meeting decided on a reduction of the share premium reserve of SEK 150 million for transfer to unrestricted shareholder equity. However, the execution of this decision requires authorisation from the courts.
For further information, please contact: Jan Barchan, former President and CEO, Tel: +46 (0)40-690 4949, mobile: 0708-287 187 Peter Ragnarsson, President and CEO, Tel: (0)40-690 49 00, mobile: 0708-692626 Marielle Noble, Investor Relations, Tel: +46 (0)40-690 4905, mobile: 0709-694 980
AudioDev is one of the world's leading manufacturers of test equipment for optical media such as CDs and DVDs. AudioDev is currently the manufacturer with the broadest market coverage, enjoying a significant presence in Europe, the USA and Asia. AudioDev offers the widest range of products in the market with test equipment for all optical formats. Customers include Microsoft, EMI, Warner, Sonopress, Pioneer, Ritek and Moser Baer. Since September 2000, AudioDev is listed on the Stockholmsborsen.
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