Novestra increases its ownership in several strategic holdings
NOVESTRA INCREASES ITS OWNERSHIP IN SEVERAL STRATEGIC HOLDINGS
During the first six months of 2001, AB Novestra has made important
additional investments and, through convertibles and options, has
secured an increased ownership in seven of its strategic holdings. In
several of its holdings, Novestra has now become the main owner and in
some companies Novestra expects its ownership to reach 50% during the
upcoming year in connection with the conversion of loans.
Besides the additional investments, Novestra has during the past quarter
also made two new investments in 34 Networks AB and Blokks AB (formerly
Hårdvarubolaget). In 34 Networks, Novestra is the main owner with an
ownership stake of 30% of the capital and votes, and in Blokks, Novestra
and Industrifonden own 22% each.
Further details regarding ownership, options and convertibles will be
made public in connection with the Year-end Report on August 27, 2001.
"During 2001, we have focused on increasing our ownership in those
companies which we believe are the most interesting and where we through
ownership and commitment have a possibility to influence the business
development. This is a consolidation phase which will continue during
the upcoming year and we expect to have no more than some ten holdings
where we will have substantial ownership stakes or where we are the main
owner in the long-term," says Theodor Dalenson, Chairman of Novestra.
For further information, please contact Mr Theodor Dalenson, AB
Novestra, phone No. +46 8 454 017 50.
About AB Novestra
AB Novestra is one of the leading independent venture capital investment
companies in the Nordic region with focus on companies providing
enabling services and technologies for the communications industry.
Novestra's portfolio of companies includes B2 Bredband AB, Comintell
Holding AB, Continuum Group Ltd, Iquity Systems, Inc, Multilet AB,
Netsurvey AB, PowerNet AB, Qbranch AB and Strax, Inc. Novestra's shares
are listed on the O-List of Stockholmsborsen.
For information regarding AB Novestra, please see www.novestra.com