Redemption of shares in AB Custos

Redemption of shares in AB Custos The application period for redemption of shares in AB Custos ended on April 4, 1997. A summary of the results of the redemption procedure so far: The number of shares submitted for redemption amounted to 88.9% of the shares eligible for redemption The total amount to be redeemed is MSEK 821.8 Payment of the redemption amount, SEK 195 per share, is expected to be made on May 21, 1997 Custos' Board of Directors has previously announced that the Annual General Meeting on April 29, 1997 is recommended to vote on a proposal to redeem every tenth share through reduction of the share capital. When the application period was completed, 4,214,597 shares had been submitted for redemption, corresponding to 88.9% of the number of shares eligible for redemption. Accordingly, the Board of Directors will propose that the Annual General Meeting approves the redemption of 3,212,219 Series A shares and 1,002,378 Series B shares. The redemption amount is SEK 195 for each share that has been tendered. The redemption shares carry rights to dividend. The Board of Directors has proposed a dividend of 5.75 per share to be paid on May 13, 1997. Payment of the redemption amount is expected to be made on May 21, 1997. To make this possible, a special issue of deferred shares corresponding to the nominal reduction of the share capital is proposed. The issue of deferred shares amounts to SEK 25 per share, a total of MSEK 105.4. The deferred shares are to be redeemed immediately after they have been issued. The redemption amount for the deferred shares is equal to SEK 25 per share plus an interest factor. An agreement on the subscription of deferred shares has been reached between Custos and Livförsäkringsaktiebolaget Skandia. Redemption shares may be sold and/or purchased during the period May 5 - May 13, 1997. The trading in redemption shares will take place on the Stockholm Stock Exchange. Stockholm, April 16, 1997 AKTIEBOLAGET CUSTOS (publ) Christer Gardell Chief Executive Officer For further questions please contact Tomas Billing or Erik Törnberg (+46 8 440 57 70). This press release may not be distributed in the USA and Canada. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1997/04/16/19990211BIT00580/bit0001.doc http://www.bit.se/bitonline/1997/04/16/19990211BIT00580/bit0002.pdf

Subscribe