STOCKHOLM, Sweden, April 22, 2002 (PRIMEZONE) -- Ericsson (Nasdaq:ERICY):
-- Intention to Raise Approximately SEK 30 Billion
-- Both A- and B-shares will carry rights to new B-shares
-- The offering is expected to be carried out before the end of
third quarter
-- Industrivaerden and Investor have expressed their support for
the proposed offering
Proposed Authorization for Rights Offering
The board of Ericsson has resolved that an Extraordinary General Meeting of shareholders be called for June 6, 2002, to authorize the Board to launch a rights offering to the company's shareholders. The intention is that the rights offering shall raise approximately SEK 30 billion. It is proposed that the Board be authorized to formulate the final terms and conditions of the rights offering in order to provide for flexibility in the timetable, especially as Ericsson is subject to regulatory approvals in several jurisdictions. The terms will be set at the formal launch of the rights issue taking account of the prevailing share price, market conditions and prudent market practice. The proposal is that shares of both series A and series B will carry rights to subscribe for new shares of series B. The rights offering is expected to be carried out before the end of the third quarter 2002.
Industrivaerden and Investor who together hold approximately 7% of the capital and approximately 67% of the votes in Ericsson have expressed their support for the proposed rights offering and stated that their intention is to subscribe fully for their rights.
Ericsson is shaping the future of Mobile and Broadband Internet communications through its continuous technology leadership. Providing innovative solutions in more than 140 countries, Ericsson is helping to create the most powerful communication companies in the world.
Read more at http://www.ericsson.com/press
This announcement is not an offer for sale of any securities in any jurisdiction.