LUND, Sweden, July 8, 2002 (PRIMEZONE) -- The Board of Directors of Anoto has resolved that a directed cash issue of 650.000 new shares totalling SEK 14,95 million is offered to Hitachi. The new share issue is implemented in accordance with the Board of Directors' authorisation to direct share issues at Anoto's strategic partners. The authorisation was given at the Annual General Meeting on April 24, 2002. The share price has been set at SEK 23.
The issue price corresponds to a premium of 9.5 % compared to the closing rate on Friday July 5 and fully 40 % compared to the traded average price during the past 10 days calculated as of Friday July 5, 2002.
The new issue is a natural continuation of the earlier advised collaboration between Anoto and Hitachi that was unveiled in April this year. This collaboration includes i.a. development of the new infrastructure product Enterprise Paper Look-up Service (EPLS) that enables companies to create customised digital form solutions within their firewalls.
"Hitachi today is one of our strongest partners and we are delighted about the continued confidence in our company and technology. Up to the present Hitachi has placed orders for customised development totalling SEK 20 million. Installation of initial joint products at Japanese customers is planned for Q1 2003. Major customer groups will include medical service, public service and logistics. With this issue totalling SEK 15 million our co-operation is further reinforced and opportunities for a closer and even more distinct future relationship are created," said Christer Fahraeus, CEO, Anoto Group.
The dilution caused by Hitachi's investment, including the newly issued shares and excluding outstanding warrants, is approx. 0.84% of the share capital. The Board of Directors has been authorised to resolve to issue a total of 8 million shares directed at industrial investors.
EPLS = Enterprise Paper Look-up Service, is a new product that
supplements the infrastructure that is marketed and sold by Anoto.
The product further enables enterprises to develop customised intranet
pen and paper based applications and services. Hitachi will be using
the Anoto EPLS in its solutions, however the EPLS will also be a
standard product owned by Anoto and marketed and sold worldwide by
partners.
For more information please contact:
Christer Fahraeus Charlotte Laveson
CEO Director PR
Anoto Group AB Anoto Group AB
+46 733 45 1205 +46 733 47 8620
ANOTO GROUP AB is a Swedish hi-tech company with unique solutions for transmission of handwritten text from paper to digital media, scanning of printed text and intelligent camera surveillance. All products are based on digital camera technology and image processing in real time. The Anoto Group today has three brand names: Anoto(R) - a comprehensive solution entailing paper, pen and server technologies, allowing us to connect all types of writing paper with the digital world, C-Pen(R) - a scanning pen that can store, interpret and transfer printed text, and WeSpot(TM) - a hardware and software platform for intelligent camera surveillance. The Anoto Group has around 300 employees, offices in Lund (head office), Stockholm, Boston, Tokyo and Hong Kong. Major shareholders are Ericsson, Capital Group and the founder Christer Fahraeus. The Anoto share is traded on the O-list, Attract 40 of Stockholmsborsen (Stockholm Stock Exchange) under the ticker ANOT. For more information: www.anotogroup.com
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