STOCKHOLM, Sweden, May 13, 2003 (PRIMEZONE) -- Intrum Justitia AB's (Other OTC:INJJF) first AGM since its initial public offering on the Stockholm Exchange on June 7, 2002, was held in Stockholm today. Some 50 people attended.
In his address, Intrum Justitia's President and CEO, Mr Jan Roxendal, said: "Our successful IPO can be viewed as corroboration that we're active in an expansive market with sizeable potential." He also reviewed the group's services, market conditions and growth strategy, based on organic growth supplemented by selective acquisitions. Mr. Roxendal reiterated the group's objective of achieving average annual average organic growth of 10 percent over a business cycle.
Mr. Roxendal's statement is available at Intrum Justitia's website, www.intrum.com
Dividends
The AGM approved the Board of Directors' proposal of dividends of SEK 1.00 per share; May 16, 2003 was resolved as the record date, with dividends scheduled for pay-out from VPC (the Swedish Central Securities Depository & Clearing Organization) on May 21, 2003.
Remuneration to the Board of Directors
The AGM approved the Nomination Committee's proposal of Board remuneration of SEK 1,500,000, divided between Board members subject to the Board of Directors' discretion, plus a further SEK 225,000 to be utilized for committee work performed in addition to scheduled Board actions.
Board of Directors
The meeting re-elected the Board of Directors in accordance with the Nomination Committee's proposal, meaning that Intrum Justitia AB's Board comprises Bjorn Froling, Reinhold Geijer, Bo Goransson, Bo Ingemarson, Maria Lilja, Dennis Punches and Christian Salamon and the Deputies Rolf Granstrom and Stefan Linder, all for the period through to the next Annual General Meeting.
The Board held its meeting following election immediately after the AGM, when Mr. Bo Ingemarson was appointed Chairman and Mr. Reinhold Geijer Deputy Chairman.
Nomination Committee
The AGM resolved for the company's Nomination Committee to be constituted annually by the Chairman of the Board assembling one representative of each of the five largest shareholders, according to the registration held by VPC as of December 31, ahead of each AGM.
Staff Stock Option Plan
Additionally, the AGM approved the Board of Directors' proposal for astaff stock option plan and the associated issue of debt instrumentswith detachable options, and approved disposal over options within theframework of the staff stock option plan.
For further information, please contact: Anders Antonsson, Director of Communications Tel: +46 8 546 10 206, mobile: +46 703 36 78 18 E-mail: a.antonsson@se.intrum.com
Intrum Justitia is Europe's leading Receivables Management Services Group. The Group has revenues of SEK 2.8 billion and has about 2,800 employees in 21 European countries.
Intrum Justitia's objective is to be a leading provider of RMS in Europe through excellence in local client care, ledger administration and debt collection and by measurably improving clients' cash flow and long-term profitability. The Group offers efficient high quality management of commercial and consumer receivables in all phases in the RMS process. Intrum Justitia has a growth strategy and aims to take active part in consolidating its industry. Intrum Justitia is listed on Stockholmsborsen, the Stockholm Exchange, ticker IJ. For more information, please visit www.intrum.com
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http://www.waymaker.net/bitonline/2003/05/13/20030513BIT01000/wkr0001.doc
http://www.waymaker.net/bitonline/2003/05/13/20030513BIT01000/wkr0002.pdf