STOCKHOLM, Sweden, Dec. 05, 2003 (PRIMEZONE) -- The Board of Directors of Observer AB has decided on a directed new share issue of 2,000,000 shares to a limited number of Swedish and foreign institutional investors. The decision is based on an authorization from the Annual General Meeting held on May 6, 2003. The purpose of the new share issue is to finance part of the acquisition of the U.S. based MediaMap as announced on 3 December 2003. The shares have been placed at a price of SEK 33.90 per share and will raise approximately SEK 68 million to the company, before expenses related to the issue. Up until the completion of the placing of shares, the volume weighted average price for the Observer share on Stockholmsborsen (Stockholm stock exchange) on 4 December 2003 was SEK 34. After the new share issue, the total number of shares outstanding in Observer will amount to 69,957,325 shares.
Carnegie is acting as financial advisor to Observer in connection with the transaction.
Observer AB, quoted on the Attract 40 section of Stockholmsborsen's O-list has approximately 26 000 shareholders.
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