UPPSALA, Sweden, Nov. 14, 2003 (PRIMEZONE) -- Pricer's Extraordinary General Meeting was held November 14, 2003. The following decisions were taken.
Issue of shares with right of preference for the shareholders. The Extraordinary General Meeting decided to approve the Board's decision of 28 October 2003 to increase Pricer's share capital by not more than SEK 11,076,001.60 through an issue of not more than 110,760,016 new series B shares, each for a nominal value of SEK 0.10. The company's shareholders shall have a right of preference to subscribe for new shares. Regardless of class of share, every full three shares shall entitle the holder to subscription of one new series B share. The issue price shall be SEK 0.50 per share. Subscription of shares with a right of preference shall be made in cash during the period 28 November 2003 - 12 December 2003. The record day for participation in the new share issue shall be 24 November 2003.
Issue of debt instrument with warrants. The Extraordinary General Meeting decided to approve the Board's decision of 28 October 2003 to raise a subordinated loan for a nominal value of SEK 1,000 through an issue of a debt instrument of a nominal value of SEK 1000 linked with 110,760,016 detachable warrants for subscription of series B shares, each with a nominal value of SEK 0.10 following which the company's share capital could increase by not more than SEK 11,076,001.60. Only the wholly-owned subsidiary, Pricer Communication AB, shall be entitled to subscribe for the debt instrument with a departure from the shareholders' right of preference. Subscription for and payment of the debt instrument linked with detachable warrants for subscription of new shares shall be made not later than 30 November 2003. The subordinated loan matures for payment on 31 January 2004 and shall run at an annual interest of five (5) per cent. The warrants entitle holders to subscription of new shares in the company at a price of SEK 0.50 per share during the period 31 May 2004 to 11 June 2004 inclusive. The detachable warrants shall be transferred on, free of charge, by Pricer Communication AB to those of the company's shareholders who have subscribed for shares in accordance with the new share issue above. One (1) warrant, which entitles the holder to subscription of one (1) series B share, shall be received for every subscribed and allocated share.
Issue of shares without right of preference for the shareholders. The Extraordinary General Meeting decided to approve the Board's decision of 28 October 2003 to increase Pricer's share capital by not more than SEK 883,020 through an issue of not more than 8,830,200 new series B shares, each for a nominal value of SEK 0.10. Only Sagri Development AB, Purpose AB, Sverre Hollie, Michael Juuhl and Martin Bjaringer shall be entitled to subscribe for new shares with a departure from the shareholders' right of preference. The issue price shall be SEK 0.50 per share. Subscription for shares shall be made through payment in cash or through set-off no later than 15 December 2003.
The share issue shall be directed at the members of the consortium which has guaranteed that the rights issue stated above is fully subscribed. In consideration of the given guarantees the guarantors have undertaken to accept payment in the form of newly issued of series B shares.
For further information, please contact: Jan Forssjo, President of Pricer AB: +46 8-505 582 00
Pricer AB (publ), founded in 1991 in Uppsala, has a world-leading position as a supplier of electronic display and information systems to the retail industry. Pricer offers electronic information systems that significantly improve customer profitability and productivity.
With the largest product range on the market, Pricer ESL System is installed in more than 350 stores in three continents. Customers include the second largest retail chain in Europe and some of the largest retail chains in Japan. Pricer, in collaboration with highly competent partners, offer a totally integrated solution together with supplementary products, applications and services.
Pricer AB is quoted on the O-list of the OM Stockholm Exchange. For further information, please visit Pricer's website. Registration to receive news releases automatically via e-mail can be made through the website
Pricer AB (publ) Website: www.pricer.com Bergkallavagen 20-22 Telephone: +46 8 505 582 00 SE-192 79 Sollentuna Corporate ID number: 556427-7993 Sweden
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http://www.waymaker.net/bitonline/2003/11/14/20031114BIT00810/wkr0001.doc
http://www.waymaker.net/bitonline/2003/11/14/20031114BIT00810/wkr0002.pdf