STOCKHOLM, Sweden, May 12, 2005 (PRIMEZONE) -- At the annual general meeting in New Wave Group AB (publ) today, the following was decided, among other things:
-- Dividend to the shareholders of SEK 1.50 per share with 17 May 2005 as record date.
-- Re-election of Hakan Thylen, Torsten Jansson, Lennart Bohlin and Hans Johansson as board members.
-- Reduction of the shares par value from SEK 6 to SEK 3 (Split 2:1) with 10 August 2005 as record date, meaning that 8 August 2005 will be the first trading day applying the new par value.
-- Authorization of the board to make a new issue of up to 6,000,000 shares of class B in the company with a par nominal value of SEK 3, with or without shareholders subscription privilege and with or without stipulation of capital contributed in kind, set off or other stipulation as mentioned in Chapter 4 No. 6, first paragraph, in the Companies Act.
-- A loan up to a limit of SEK 25 will be raised through the issue of debentures to the subsidiary New Wave Retailing Stockholm AB coupled with 1,500,000 separable share option rights for subscription up to a limit of 1,500,000 new B-shares having a par value of SEK 3 in the company. Also the further transfer of the separated share option rights from New Wave Group Incetives AB to employees in leading positions within the group were approved.
Complete documentation regarding the issues mentioned above is available at the company.
Boras, 12 May 2005
New Wave Group AB (publ) The Board
For more information, please contact:
Torsten Jansson CEO, New Wave Group
Tel: +46 (0)708 99 80 50
+46 (0)303 24 65 01
Goran Harstedt dCEO, New Wave Group
Tel: +46 (0)708 99 80 17
+46 (0)303 24 65 02
New Wave Group in brief New Wave is a promotional and retailing company that concentrates on establishing, acquiring and developing trademarks, mainly within the promo wear, leisurewear and gift sector. New Wave operates within two business areas, in the Corporate Promotional area through sales to independent promotion companies, as well as in the Retailing business area via retailers mainly within sportswear and shoes. By operating within both areas, the Group's risk spreading and the coordination advantages increase.
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