STOCKHOLM, Sweden, Sept. 5, 2003 (PRIMEZONE) -- Industriforvaltnings AB Kinnevik (Nasdaq:KVIKA) (Nasdaq:KVIKB) today announced that it has purchased 1,000,000 class A shares in Transcom WorldWide S.A. ("Transcom") in a directed share issue at SEK 18.80 per share. Kinnevik's total shareholding in Transcom following the share issue is 4,232,697 class A shares and 2,179,002 class B shares, equivalent to a 11.7 per cent voting interest and a 9.1 per cent economic interest.
The background to the transactions is that the existing share option scheme can only be exercised in B-shares, which means that the number of class B shares, before the share issue, exceeds the number of class A shares. Luxembourg company law requires that the number of class A shares exceeds the number of class B shares.
Industriforvaltnings AB Kinnevik was established in 1936 as an investment holding company. The Company's objective is to increase shareholder value, primarily through net asset value growth. The business consists of operating companies such as farming company MSLA and paper and pulp producer Korsnas AB, and a portfolio of long-term investments in a select number of listed companies such as Tele2 AB, Modern Times Group MTG AB, Millicom International Cellular S.A., Metro International S.A., Transcom WorldWide S.A. and Invik & Co. AB. Kinnevik plays an active role on the Boards of its subsidiaries and associated companies.
Kinnevik's 'A' and 'B' shares are traded on the Stockholmsborsen 'A- list'.
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http://www.waymaker.net/bitonline/2003/09/05/20030905BIT00430/wkr0001.doc
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