STOCKHOLM, Sweden, April 9, 2002 (PRIMEZONE) -- Kungsleden AB (publ) held its Annual General Meeting today, and in accordance with a motion from the Board of Directors, resolved on dividends of SEK 10.50 per share. The record date of April 12, 2002 was adopted, with dividends scheduled for distribution by VPC (the Central Swedish Securities Depository) on April 17, 2002.
In his statement to the Meeting, Chief Executive Jens Engwall reviewed operations in the financial year 2001 and described current market conditions. The market for property acquisitions and disposals has been healthy in early 2002, with a series of positive transactions. Mr. Engwall also commented on Kungsleden's business in sheltered accommodation for senior citizens, which progressed well; he also highlighted his perception of a series of attractive business opportunities in this segment in the remainder of 2002.
The AGM discharged the Board members and Chief Executive from liability for the financial year 2001. Jockum Beck-Friis, Jens Engwall, Mats Israelsson, Bengt Kjell, Jonas Nyren and Ole Oftedal were re-elected as Board members; Bengt Kjell was appointed Chairman of the Board at the subsequent Board meeting following election.
Kungsleden's business concept is to own and manage properties with high and stable long-term property yield. Kungsleden is an active participant in the change processes on the Swedish property market, by utilizing and enhancing its competencies in structuring heterogeneous property holdings. This implies Kungsleden's property holding frequently changing through acquisitions and disposals. Kungsleden's portfolio comprises 455 properties with a book value of some SEK 9.5 bn. The holding is located in a total of 129 municipalities, but is concentrated on the Swedish provinces of Gataland and Svealand. Kungsleden has been quoted on the OM Stockholm Exchange O-list since April 14, 1999.
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