STOCKHOLM, Sweden, Dec. 18, 2003 (PRIMEZONE) -- Based on authorization by the annual general meeting of April 4, 2003 and a special meeting of shareholders on August 8, 2003, Framfab's board of directors has issued 55,000,000 new shares.
Based on authorization by the annual general meeting of April 4, 2003 and a special meeting of shareholders on August 8, 2003, Framfab's board of directors resolved on December 17 to carry out a directed new share issue of 55,000,000 shares.
The authorization by the annual general meeting of April 4, 2003, the purpose of which is to finance acquisitions, comprises 35,000,000 shares. The authorization has been exercised to pay the cash portion of the SBI UK acquisition, which was carried out in November. Authorization for the remaining 20,000,000 shares was granted by the special meeting of shareholders on August 8, 2003. The authorization, the purpose of which is to strengthen the company's financial position, comprises 130,000,000 shares, 110,000,000 of which were issued in September.
The new share issue was directed towards a limited number of investors. The shares, which were priced at 0,35 kronor each, have raised 19.25 million kronor for Framfab before underwriting expenses.
Now that the issue has been carried out, the number of Framfab shares totals 766 746 418.
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