STOCKHOLM, Sweden, March 27, 2002 (PRIMEZONE) -- Shareholders in Fastighets AB Tornet (publ) are hereby notified that the Annual General Meeting of Shareholders will take place on Friday, April 26, 2002 at 3 p.m. at World Trade Center, New York-salen, Klarabergsviadukten 70 or Kungsbron 1, Stockholm.
Notification of Attendance
Shareholders, who wish to participate in the Annual General Meeting, must:
-- be registered in the share register kept by the Swedish Securities
Register Centre ("VPC") at the latest by Tuesday, April 16, 2002.
Shareholders, whose shares are nominee-registered, must request
that their shares are temporarily registered in their own name at
VPC in good time before Tuesday, April 16, 2002 to be able to
participate in the Annual General Meeting.
-- notify the company in writing of their intention to attend at the
latest by 1 p.m. on Monday, April 22, 2002 at the address
Fastighets AB Tornet, Box 623, SE-182 16 Danderyd or by telephone
+46-8-544 905 17.
Agenda
1. Opening of the meeting.
2. Election of a chairman at the meeting.
3. Drawing up and approval of the list of voters.
4. Approval of the agenda.
5. Appointment of persons to check the minutes.
6. Consideration of whether the meeting has been duly convened.
7. Presentation of the annual accounts and the auditors' report and
the Group statement of income and the auditors' report for the
Group for the financial year 2001.
8. Speech by the managing director.
9. Decision on adoption of the statement of income and the balance
sheet and the Group statement of income and the consolidated
balance sheet.
10. Decision on appropriation of the company's profit and the record
date.
11. Decision of discharge from liability for the board members and
the managing director.
12. Determination of the number of board members, who are to be
appointed by the Annual General Meeting.
13. Determination of the fees for the board and the auditors.
14. Election of the members of the board.
15. The board's proposed decision on authorisation for the board to
decide on acquisition and transfer of Tornet's shares.
16. Closing of the meeting.
Decisions Proposed by the Board
Item 10 - Dividend and Record Date
The board proposes to the Annual General Meeting that a dividend of SEK 4 per share be paid for the financial year 2001. The board recommends that Thursday, May 2, 2002 be set as the record date. If the Annual General Meeting accepts the board's proposal, it is expected that dividend can be sent out by VPC on Tuesday, May 7, 2002.
Items 12, 13 and 14
With regard to the number of board members, fees for the board and the auditors, and the election of the board, the nominations committee makes the following recommendations:
-- Seven ordinary board members.
-- A fee for the board of SEK 1 100 000 kronor to be distributed by
the board.
-- Auditors' fees to be paid according to the usual norms for
charging.
-- It is proposed that ordinary board members Goran Collert, Katja
Elvang and Sverker Lerheden be re-elected. It is proposed that
Lars Gardo, Lars Hansson, Lennart Laftman and Bo Ingemansson be
elected as new board members to replace Goran Ahlstrom, Jan-Erik
Erenius and Karl-Evert Oskarsson who have all declined to be
re-elected.
The proposal is supported by shareholders who together represent more than 27 per cent of the votes and equity in the company.
Item 15 - Authorisation, Repurchase of Tornet's Shares
It is proposed that the Annual General Meeting authorise the board, during the period until the next Annual General Meeting of shareholders, provided that the board deems it appropriate, to make decisions on acquisition of Tornet's shares, with the right for the board to acquire as many shares as correspond to a tenth of the total number of shares. If such repurchase is made, it shall take place through the Stockholmsborsen. Acquisition shall take place at a price per share within the price interval registered on the stock exchange at the time of acquisition. It is proposed that the authorisation given to the board also include the possibility to transfer repurchased shares, departing from or complying with the shareholders' right of priority, as payment in connection with acquisition of a business or for financing of acquisition of a business or by canceling these. In the event of transfer of repurchased shares, the reason for the departure from the priority right is that the company can, in such a transfer, obtain more favourable terms than could otherwise have been obtained. The board shall be able to decide on a set-off or otherwise attach conditions to the transfer. It shall be possible to transfer shares for other compensation than money. In the event of cancellation of repurchased shares, the board shall put forward a proposal to a shareholders' meeting to decide on reduction of the share capital by cancellation. The purpose of any acquisitions shall be to achieve added value for the shareholders.
Shareholders may be accompanied by one or two assistants at the Annual General Meeting, provided that the shareholder has made a notification to this effect as provided for in the above Notification.
Coffee will be served from 2 p.m.
Fastighets AB Tornet is one of Sweden's major listed property companies. Its Swedish holding has a lettable area of around 3.1 million square metres and a book value of approximately SEK 19 billion. Over 97 per cent of the property holdings, measured as book value, are in Sweden, mainly concentrated in Sweden's six largest cities and in Norrkoping and Karlstad. The properties are owned and managed by the subsidiaries ArosTornet, Malmstaden, MalarTornet, SkansTornet and Euro Tower
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