STOCKHOLM, Sweden, April 19, 2002 (PRIMEZONE) -- Custon:
-- Total return on Custos shares for the report period was
16.8 percent.
-- 98.7 percent degree of acceptance in Custos' redemption program.
Total Return
Total return on Custos shares for the report period was 16.8 percent.
Return, January 1, 2002 - March 31, 2002
%
Total return on Custos shares(1) 16.8
Cost of shareholders' equity(2) 1.7
SIX Portfolio Return Index -1.4
SIX Return Index -2.7
1 Return taking into account share price appreciation and, where
appropriate, dividend paid and share redemption.
2 Measured as the average 12-month Swedish Treasury bill rate plus
a risk premium of 3 percent during the three-month period.
Net Asset Value
Total net asset value on March 31, 2002 was MSEK 1,788 (Dec. 31, 2001: 3,046), which was equivalent to SEK 218 (Dec. 31, 2001: 224) per share. Value per share is based on 8,210,600 Custos shares.
Net asset value on March 31, 2002 is calculated on the assumption that the 5,362,742 Custos shares registered for redemption in Custos' offer have been redeemed (see "Redemption of Custos shares with payment in cash" below). The same applies to the synthetically repurchased shares (as provided by a mandate from the Annual General Meeting on April 5, 2001).
On March 31, 2002, Custos' discount to net asset value was 11 percent. This was higher than at year-end 2001, when the discount amounted to 10 percent.
Jan. 1, 2002-
Change in net asset value, MSEK Mar. 31, 2002
Net asset value, January 11 3, 046
Dividends 11
Administrative expenses -6
Other income and expenses 1
Income/loss from fixed-asset 0
receivables
Financial income and expenses 20
Taxes -1 25
Change in value of securities
portfolio
Bilia 55
Christian Salvesen 24
Perbio Science 18
C. Tybring-Gjedde 17
Sydsvenska Kemi 15
SCA 7
Esselte 5
Pergo -18
Other holdings 38 161
Change in net asset value 186
before dividend etc.
Payment for redemption share(2) -1,418
Change in value from synthetic 0
buy-backs of Custos' own shares
(swap agreement (3) which arose
during 2002
Transfer of market value of 1
synthetic share buy-backs on
December 31, 2001 (swap
agreement (3)
Preliminary redemption amount of -1
synthetic share buy-backs on
March 31, 2002 (swap agreement
3)(3)
Other items -26
Net asset value at end of period 1,788
(1) The Custos shares that were included in the synthetic buy-back
program on December 31, 2001, as provided by a mandate from
the Annual General Meeting on April 5, 2001 (swap agreement 3),
are assumed to have been redeemed at the market value prevailing
on December 31, 2001 (MSEK 1).
(2) Redemption payment and the dividend belonging to it
(see "Redemption of Custos shares with payment in cash").
(3) The Custos shares that were included in the synthetic buy-back
program on March 31, 2002, as provided by a mandate from the
Annual General Meeting on April 5, 2001 (swap agreement 3), are
assumed to have been redeemed at the market value prevailing on
March 31, 2002 (MSEK 1).
Information schedule
-- Press release from the Annual General Meeting....Later today -- Interim Report, January 1 - June 30 July 17, 2002 -- Interim Report, January 1 - September 30 October 17, 2002
Only reports attributable to the full-year accounts will be distributed to the shareholders. Other reports will be available at the Company's office and will be sent to shareholders that request them. All reports are also available on the Company's web site, www.custos.se.
This Interim Report has not been subject to special examination by the Company's auditors.
This Interim Report is published in Swedish and English. In the event of any difference between the English version and the Swedish original, the Swedish version shall govern.
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www.waymaker.net/bitonline/2002/04/19/20020419BIT00400/wkr0001.doc The Full Report www.waymaker.net/bitonline/2002/04/19/20020419BIT00400/wkr0002.pdf The Full Report