STOCKHOLM, Sweden, April 8, 2003 (PRIMEZONE) -- The following decisions were passed at today's Annual General Meeting of Drott AB (publ) (Other OTC:DOTBF):
Dividend of SEK 5.00 per share, totaling SEK 442 million
-- Record date of April 11, 2003.
-- The dividend is expected to be paid by VPC on April 16.
Retirement of 3,588,400 Class B shares
-- Drott's entire holding will be retired, excluding 450,000
shares to meet the company's obligation to its option holders.
-- The retirement reduces the share capital by SEK 7.2 million.
-- To reduce the time needed to retire the shares, Drott will to
Handelsbanken issue 3,588,400 new "Class C" shares with a par
value of SEK 2.00 per share (the shares will be redeemed
immediately after the new share issue is registered).
-- After retiring the shares, Drott will have a total of
88,826,885 registered shares.
Authorization for the Board of Directors, until the Annual
General Meeting in 2004, to decide to acquire and transfer the
company's own shares
-- The company may own a maximum of 10 percent of its registered
shares.
-- Transfers are permitted to finance acquisitions of properties
and companies.
Election of the Board of Directors
Peggy Bruzelius and Goran Nord have been reelected to the Board, while Anders Boos, Urban Jansson, Roland Nilsson, Lars Soderblom and Jonas Wahlstrom have been elected as new members. Lennart Elvelin remains the employee representative appointed by the Swedish Building Maintenance Workers' Union.
Statutory Board meeting
Urban Jansson was appointed Chairman and Jonas Wahlstrom Deputy Chairman.
President
Claes Linne has been appointed acting President. Linne has been Executive Vice President and CFO of Drott since 1998. The recruitment of a new President is under way.
Drott AB (publ)
For further information, please contact: Chairman Urban Jansson, telephone +46 705 90 80 91
Drott's Board of Directors as of the Annual General Meeting 2003
Peggy Bruzelius
Born 1949. Member of Drott's Board since 1999. Chairman of the Board of Grand Hotel Holding AB and Lancelot Asset Management AB. Member of the Board of Axel Johnson AB, Axfood AB, AB Electrolux, Ratos AB, Scania AB, Syngenta AG, the Exchange Committee of Swedish Industry and Commerce, and the Stockholm School of Economics Association. Former Vice President of SEB and CEO of ABB Financial Services. Shareholding in Drott: 4,000 Class B shares.
Anders Boos
Born 1964. Member of the Board of Hagstromer & Qviberg AB, IP Only Telecommunication AB and IFS AB (nominated). Former President of Hagstromer & Qviberg AB. Shareholding in Drott: 50,000 Class B shares.
Urban Jansson
Born 1945. Chairman of Plantagen and Proffice, among others. Member of the Board of Addtech, Ahlstrom Corp, Anoto Group, Eniro and SEB. President of Ratos 1992-1998. Shareholding in Drott: 8,000 Class B shares.
Roland Nilsson
Born 1950. President and CEO of Nordic Shoes & Accessories AB. Chairman of the Board of A-Com, Frango and MZ Travel. Member of the Board of Proffice and Dometic, among others. President and CEO of Scandic Hotels 1992-2002. Shareholding in Drott: 0 shares.
Goran Nord
Born 1945. Member of Drott's Board since 1998. Chairman of the Board of Copiax Intressenter AB, Besthand Holding AB and Svenska Retursystem AB. Member of the Board of Consumenta AB, Handelsbanken region City, Jaktia AB, Lindvalls Kaffe AB, Osram AB and Sabis AB. Former President of ICA Partihandel AB and Acting CEO of ICA. Shareholding in Drott: 5,000 Class B shares.
Lars Soderblom
Born 1946. Chairman of Rodamco Sverige AB, GLP Properties AB and Intreprenor AB. Member of the Board of ICA Fastighets AB, Investeringssallskapet 2 AB and Hallstrom & Nisses Fastighets AB. President of Piren AB 1986-2001. Shareholding in Drott: 0 shares.
Jonas Wahlstrom
Born 1958. Chairman of Johnson Pump AB. Member of the Board of Skistar AB. Shareholding in Drott: 1,000,000 Class B shares.
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