STOCKHOLM, Sweden, July 15, 2003 (PRIMEZONE) -- Intentia International AB (publ) (Other OTC:IAINF) (XSSE:INTBE) announces that it has finalized its new share issue with preferential rights for current shareholders. This provides the Company with approximately SEK 400 million after transaction costs related to the share issue and the offer to purchase convertible notes. The Company's shareholders subscribed for approximately 98 percent of the shares by exercising their preferential rights. The remaining shares have been subscribed for with subsidiary preferential rights by the Company's shareholders within the limits set by the highest amount of the share issue. This means that the offer to noteholders will be carried out according to the terms previously made public.Liquidity of the convertible offer, including the 5 percent interest coupon that is due for payment on July 15, 2003, amounts to EUR 36.3 million (approximately SEK 332 million).
"We are pleased by the strong support Intentia's shareholders have shown for the Board's proposal to resolve the uncertainty related to the outstanding convertible loan," said Bjorn Algkvist, Intentia's CEO. The transactions that have now been completed will increase Intentia's equity/assets ratio pro forma to approximately 38 percent (22 percent as of March 31, 2003). Liquid assets will increase by approximately SEK 68 million after the share issue and payments pursuant to the offer to purchase convertible notes. "This will create a much more stable base on which to continue doing business," Algkvist adds. "In addition, the resulting stronger balance sheet increases our competitive edge, as potential customers increasingly focus on the long-term stability of the suppliers they evaluate."
The new shares are estimated to be traded on the Stockholm Stock Exchange's O-list as from the end of July, 2003. After completion of the share issue, the total number of shares will be 109,719,600, divided into 3,403,920 Series A shares and 106,315,680 Series B shares, which is the equivalent of a share capital of SEK 1,097,196,000.
Carnegie has acted as financial advisor to Intentia in connection with the tender offer to noteholders and the rights issue.
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 3,500 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