STOCKHOLM, Sweden, April 7, 2004 (PRIMEZONE) -- The Board of Directors of Electrolux (ELUX) will not utilize the possibility of adjusting conditions for the share redemption offer amounting to approximately SEK 3,000m.
The conditions were published on March 16, and the Board then reserved the right to change the redemption price and redemption ratio at the latest two weeks before the Annual General Meeting if the price of the Electrolux share would increase significantly and thereby make the redemption offer less attractive for the shareholders.
The proposed conditions are thus unchanged and can be summarized as follows:
. Each A-share gives one class A redemption right, and each B-share gives one class B redemption right.
. 20 class A redemption rights entitle redemption of one class A share, and 20 class B redemption rights entitle redemption of one class B share. In order to facilitate adjustment of uneven lots, a maximum of 1,000 redemption rights can be used to redeem shares of either class (A and/or B).
. The amount to be paid by Electrolux for each redeemed share is SEK 200.
. A maximum of 1,000 redemption rights can be sold free of brokers' commission.
Decision on the proposed redemption offer will be taken at the Annual General Meeting of shareholders on April 21, 2004.
The Electrolux Group is the world's largest producer of powered appliances for kitchen, cleaning and outdoor use, such as refrigerators, washing machines, cookers, vacuum cleaners, chainsaws, lawn mowers, and garden tractors. Every year, customers in more than 150 countries buy more than 55 million Electrolux Group products for both consumer and professional use sold under famous brands such as AEG, Electrolux, Zanussi, Frigidaire, Eureka and Husqvarna. In 2003, Electrolux had sales of SEK 124.1 billion and 77,100 employees.
Further information
For further information, please contact Investor Relations at +46 8 738 60 03. Electrolux Press Hotline is available at +46 8 657 65 07.
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