MALMO, Sweden, May 6, 2004 (PRIMEZONE) -- Teleca's annual general meeting on 6 May 2004 adopted the parent company's and the group's accounts. It further discharged the board of directors and the CEO from liability. The CEO, Dan Olofsson, commented on the group's operations and the interim report, which was distributed earlier during the day.
Dividend
The annual general meeting decided in accordance with the proposal of the board that no dividend would be paid for 2003.
Board of directors
Borje Bengtsson, Konstantin Caliacmanis, Goran Larsson, Gunder Lilius, Dan Olofsson and Johan Vunderink were re-elected to the board of directors. Juha Christensen, president, Macromedia Mobile at Macromedia Inc. in San Francisco, was newly elected to the board. The board fee was fixed at SEK 600,000, to be distributed among the board members.
Committees
The annual general meeting decided against the proposal from Aktiespararna, the Swedish Shareholders' Association, to appoint a nomination committee. Instead it was decided that the nomination committee should consist of the chairman of the board and one representative from each of the three shareholders with the highest voting power. If any of these main shareholders do not want to participate in the nomination process the shareholder with the next- largest voting power shall be asked to appoint a representative. The committee's task will be to propose board members and board fees for the annual general meeting in 2005. The members of the committee shall be made public in conjunction with the company's interim report for the third quarter of 2004.
In addition the annual general meeting decided against the proposal from Aktiespararna to commission the board to appoint an audit committee. The whole board will therefore, as before, act as the audit committee.
An account of the work of the remuneration committee was also presented to the annual general meeting.
Authorisation of the board to decide on new issues of shares The board was authorised to decide on new issues of up to a total of 3,000,000 series B shares and to deviate from the shareholders' pre- emptive rights. The purpose of the authorisation is primarily to facilitate the financing of acquisitions and, secondarily, to facilitate a strengthening of the company's financial position.
For more information, contact: Johannes Rudbeck, Investor Relations Manager, Teleca AB, +46-70 582 5656
Teleca is an international IT services company focused on R&D that develops and integrates advanced software and information technology solutions. With in-depth expertise in the latest technology and profound industrial knowledge, Teleca helps technology- and software-intensive customers worldwide to strengthen their market position and shorten their time to market. The company has more than 2,700 employees with operations in 15 countries in Asia, Europe and USA. Teleca is quoted on the Attract40 list of Stockholmsborsen (Stockholm stock exchange). www.teleca.com
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