STOCKHOLM, Sweden, Feb. 10, 2005 (PRIMEZONE) -- Reference is made to the Statement of the Board of Directors of Ainax of January 11, 2005 in relation to the announced public offer by Scania.
After extensive discussions with Scania the Board of Directors of Ainax has concluded that it is not been possible to effect, within the context of the Scania offer, a dividend distribution to Ainax shareholders from the liquid funds in Ainax.
The Board of Directors of Ainax notes that shareholders of Ainax who accept the offer from Scania, will take part in Scania's proposed dividend for the fiscal year 2004.
The Board of Directors maintains its earlier recommendation to the shareholders of Ainax to accept Scania's offer.
The acceptance period for the offer continues until 15 February. According to the offer prospectus prepared by Scania's Board of Directors dated December 16, 2004 the newly issued Scania shares will be listed and subject to trading on the Stockholm Stock Exchange's A-list on or about March 1, 2005.
Stockholm February 10, 2005
Ainax AB (publ) Board of Directors
For further information, please contact: Mariana Burenstam Linder, CEO, +46 8 611 8810, or +46 705 95 2250
On April 16, 2004, the AGM of Volvo decided to transfer all of Volvo's Series A shares in Scania to Ainax and distribute Ainax shares to Volvo's shareholders. The purpose of Ainax' business operations is to administer the Series A shares held in Scania. In Ainax' articles of Association it is stipulated that if Ainax has not disposed of all of its shares in Scania by May 1, 2008 the company shall immediately enter into liquidation.
Ainax AB holds 27,320,838 Series A shares in Scania, corresponding to 24.8 per cent of the votes and 13.7 per cent of the capital. The number of Ainax shares in issue corresponds to the holding of Scania Series A shares, thus providing a transparent basis for the valuation of the company.
The Ainax share was listed on Nya Marknaden on June 8, 2004. On December 1, 2004, Ainax was listed on the Stockholm Stock Exchange's O-list.
For further background information on Ainax please refer to Ainax' website (www.ainax.com)
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