STOCKHOLM, Sweden, June 11, 2003 (PRIMEZONE) -- Intentia International AB (publ) (Other OTC:IAINF) (XSSE INTENTIA B) announces that an extra general meeting of Intentia International AB held today approved the board of directors' proposal for a Rights Issue as described in the notice to attend. Briefly, the Rights Issue means that:
- A new share issue with preferential rights for current shareholders will include a maximum of 73,146,400 shares, each with a par value of SEK 10. Since the new share issue price of SEK 5.75 per share is less than the current par value per share, the remaining capital will be transferred from the share premium reserve.
- The total number of shares in the Company can increase from 36,573,200 to a maximum of 109,719,600 shares.
- If fully subscribed, the new share issue will increase Intentia's share capital by a maximum of SEK 731,464,000 to at most SEK 1,097,196,000 before transaction costs.
- The new share issue proceeds are intended to finance the repurchasing of Intentia's outstanding convertible notes and related costs.
- Each shareholder is entitled to subscribe for two (2) new shares of the same kind for every share he or she currently owns, at a subscription price of SEK 5.75 per share.
- June 16, 2003 is the proposed record date for the subscription rights, which means that the last trading day for the Intentia shares including subscription rights is June 11, 2003.
- Trading in subscription rights is anticipated to take place during the period June 19-July 7, 2003.
- The subscription period is expected to take place from June 19 to July 10, 2003.
- The prospectus and application form will be sent to Intentia's shareholders beginning on approximately June 18, 2003.
In conjunction with the new issue, today's extra general meeting decided to change the share capital limits to a minimum of SEK 350,000,000 and a maximum of SEK 1,400,000,000.
Bjorn Algkvist, Intentia's CEO, commented on today's decision by saying "It is satisfying that our shareholders' agree with our view that we now have an opportunity to eliminate the speculations about our financial position created by the convertible notes. Based on Intentia's balance sheet as of March 31, 2003, full subscription will result in pro forma stockholders' equity of SEK 1,209 million, corresponding to an equity/assets ratio of 38 percent. Liquid funds will exceed interest bearing liabilities, including the remaining convertible debt, by SEK 118 million."
For further information, please contact:
Bjorn Algkvist President and CEO Intentia International AB Telephone: +46 8 5552 5605 Fax: +46 8 5552 5999 Cell phone: +46 733 27 5605 e-Mail: bjorn.algkvist@intentia.se Hakan Gyrulf Vice President and CFO Intentia International AB Telephone: +46 8 5552 5825 Fax: +46 8 5552 5999 Cell phone: +46 733 27 5825 e-Mail: hakan.gyrulf@intentia.se Thomas Ahlerup Head of Corporate and Investor Relations Intentia International AB Telephone: +46 8 5552 5766 Fax: +46 8 5552 5999 Cell phone: +46 733 27 5766 e-Mail: thomas.ahlerup@intentia.se
About Intentia
Intentia is one of the world's leading suppliers of collaboration solutions. Our vision is to become the leading global collaboration solutions vendor by supplying our customers with tomorrow's solutions today. Intentia offers a one-stop shop for all collaboration needs within numerous industry segments. We develop, implement and maintain our own solutions to produce the highest possible level of customer satisfaction. The Intentia Solution consists of applications covering customer relationship management (CRM), enterprise management (ENM), supply chain management (SCM), business performance measurement (BPM), e-business and value chain collaboration (VCC). Intentia has more than 3,200 employees and serves over 3,400 customers in the manufacturing, maintenance and distribution industries via a global network spanning some 40 countries. Intentia is a public company traded on the Stockholm Stock Exchange (XSSE) under the symbol INT B.
Visit Intentia's Web site at www.intentia.com