ProAct IT Group's new stock issue fully subscribed
During May and June, ProAct IT Group (publ) carried out a new stock
issue with preferential rights for existing shareholders. The issue
attracted a great deal of interest and has now been fully subscribed.
The issue has been handled by Handelsbanken Investment Banking.
The new stock issue with preferential rights for existing shareholders
has now been fully subscribed, adding 1,501,218 shares in the company
and generating revenue of SEK 82.6 million before issue costs. Each
shareholder was entitled to subscribe for one new share for every five
shares held at an issue price of SEK 55 per share. Following this issue,
the total number of shares in the company is 9,007,312.
The liquidity resulting from the issue will be used to finance ProAct's
continued expansion and growth. ProAct wishes to be financially well
prepared for continued expansion - both organic and via acquisitions. It
is planned to use the issue liquidity for:
·Completion of complementary acquisitions within areas of interest
that strengthen ProAct's position, where liquid funds may constitute the
acquisition liquidity in part or in full.
·Organic expansion such as establishments in new places and in new
geographical markets, as well as development of existing activities.
·New investments in development of advanced services.
·The continued rapid growth will require both investment and
increased operating capital as a result of ProAct's extensive expansion
and increases in turnover.
"Taking into account the instability of the share market during the
spring, it is very satisfying to see full backing for the issue intended
to finance ProAct's future expansion and growth," says Henrik Holm,
Chairman of the Board of ProAct.
Option programme 2001
In accordance with the decision taken by the Annual General Meeting on
18 April 2001, ProAct has implemented a share option programme for new
employees and key personnel within the ProAct Group in the Nordic
region. The option premium amounts to 10:60 per option, and the issue
price before translation was SEK 187. Following translation - due to the
new stock issue - each option entitles the holder to subscribe for 1.08
shares at a price of SEK 173.07 per share. The programme is to run until
31 May 2004, with the subscription period running during May 2004.
Interest was very high among the key personnel, while the other
employees showed little interest. This is primarily attributable to the
poor condition of the share market.
Previously published option programmes
For the share option programme 1999/2002, running until 30 June 2002,
translation caused by the new stock issue has resulted in a new
subscription price of SEK 54.80 per share, while the subscription price
for the 2000/2002 option programme, running until 29 November 2002, has
been set at SEK 152.30 per share. Both programmes entitle the holder of
each option to subscribe for 1.08 shares after translation.
For additional information, please contact:
Per-Arne Lundberg, CEO, ProAct IT Group AB, tel. +46 8 410 666 80, e-
or Henrik Holm, Chairman of the Board,
tel. +46 8 410 666 00, e-mail
information and pictures are available at www.proact.se.
ProAct is a specialist and independent integrator with know-how, methods
and products in the field of infrastructure for securing mission-
critical information. The company, which is active in Denmark, Finland,
Norway, Sweden and Switzerland, focuses on medium-sized and large
companies and organisations in need of secure and efficient handling of
Business is conducted in Copenhagen, Aarhus, Helsinki, Uleåborg, Oslo,
Bergen, Stavanger, Trondheim, Stockholm, Gothenburg, Linköping, Lund,
Sundsvall, Karlskrona and Zurich with a staff of more than 260, most of
whom are technically oriented. What sets ProAct apart is the technical
expertise and competence of its personnel.
ProAct IT Group AB is listed on the O-list of the Stockholm Stock