STOCKHOLM, Sweden, May 07, 2004 (PRIMEZONE) -- NeoNet: CEO statement
Simon Nathanson, CEO of NeoNet, stated at yesterday's Annual General Meeting that the first quarter 2004, was very positive with an increase in revenue with 75% compared with the same period the previous year, as well as positive net earnings. In the statement Nathanson also noted that the financial performance of NeoNet during 2003 was weak, mainly due to low trading intensity.
A number of measures where implemented during 2003 forming a foundation for growth and expansion. A new generation of the trading system was developed and will be launched gradually during 2004. The acquisition of Lexit Financial Group, Inc. was concluded during 2003, which further strengthens the client base of NeoNet and adds knowledge within U.S. equity trading.
Distribution of earnings
The general meeting resolved that the parent company's non-restricted equity of SEK 10,921,653 be distributed such that the entire amount be carried forward.
Board of Directors
The general meeting resolved that, until the close of the next annual general meeting, the Board of Directors shall consist of five members. Hans Karlsson, Staffan Persson, Mats Sundstrom, Thord Wilkne and Kari Lotsberg were re-elected as board members. Torvald Bohlin had declined re-election. Nicolas de Champs is the employees' co-opted representative on the Board of Directors. The general meeting resolved that SEK 660,000 be paid as remuneration to the Board of Directors for the period until the expiry of the next Annual General Meeting, the aforesaid amount to be allocated among the members of the Board of Directors as the Board deems appropriate.
At the Board meeting following the Annual General Meeting, Staffan Persson was elected Chairman of the Board.
Since inception in 1996 NeoNet has focused on efficient and neutral agency brokerage. NeoNet provides professional investors with execution services offering a single point of access to leading equity marketplaces worldwide. Clients can execute orders using electronic direct market access or via NeoNet's international trading desks. NeoNet has offices in New York, London and Stockholm, is listed on the Stockholm Stock Exchange (ticker NEO), and has clients in more than 15 countries globally.
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The following files are available for download:
http://www.waymaker.net/bitonline/2004/05/07/20040507BIT00070/wkr0001.doc
http://www.waymaker.net/bitonline/2004/05/07/20040507BIT00070/wkr0002.pdf