STOCKHOLM, Sweden, April 11, 2003 (PRIMEZONE) -- Bulletin from the Sapa AB (Other OTC:SPKKF) Annual General Meeting:
In his speech before the Annual General Meeting in Stockholm, President and CEO Staffan Bohman commented on and summarised the development of the full year 2002, and presented the result for the first quarter 2003.
"The combination of increased volumes and improved productivity is shown in a continued strong increase in profit and improved profitability in difficult market conditions. In the US we continue to gain market share despite an uncertain market situation. Heat Transfer's positive development continues and the large investment in Finspang is now showing a return," comments Staffan Bohman, President and CEO of Sapa.
The Annual General Meeting approved the proposed dividend to shareholders of SEK 5.50 per share. The record date was determined as Wednesday, April 16, 2003. The dividend is scheduled to be paid on Wednesday, April 23, 2003.
The Meeting discharged the members of the Board and the Presidents and Chief Executives from responsibility for 2002 operations.
The Meeting authorised the Board to decide on the purchase and transfer of the company's own shares in line with the Board's proposal.
The Meeting decided that the Board should consist of eight members and no deputies and elected the following board members, Per-Olof Eriksson, Staffan Bohman, Anders Carlberg, Ole Enger, Lennart Evrell, Leif Gustafsson, Baard Haugen and Mats Qviberg.
Stockholm, April 11, 2003 The Board of Directors Sapa AB
For further information, please contact Bo Askvik, CFO, tel: +46-70-819 59 18
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The following files are available for download:
http://www.waymaker.net/bitonline/2003/04/11/20030411BIT01010/wkr0001.doc
http://www.waymaker.net/bitonline/2003/04/11/20030411BIT01010/wkr0002.pdf