Novestra: Iquity Systems Inc receives msek 130 through new share issue

NOVESTRA: IQUITY SYSTEMS INC RECEIVES MSEK 130 THROUGH NEW SHARE ISSUE As appears from a press release issued by Iquity Systems Inc. today, the company receives a little over MSEK 130 from the new share issue of shares and convertible loans that has now been concluded. By taking part in the new share issue, AB Novestra has increased its ownership from 5.4 percent to 12.0 percent and has, in addition, acquired a convertible debenture loan of nominally MSEK 12. Novestra's total investment in the new share issue amounts to MSEK 24.5, including the debenture loan, of which MSEK 14.5 will be paid by offsetting previous claims on Iquity Systems. In a previous press release dated December 14, 2000, Novestra's management estimated that the future need for write-offs in relation to shareholders' equity as of September 30, 2000 is less than 10 percent. In the light of inter alia the now completed new share issue in Iquity Systems, Novestra's management currently estimates that the future need for write-offs will fall well below this level. The net asset value of the portfolio is still estimated to exceed book values considerably. "During this year, Iquity Systems have worked out a new and more focused business plan and they have substantially reduced the company's cost level. By this successful new share issue, Iquity Systems' new management can continue the more focused concentration on marketing and sales of the company's system platform and products," Peter Ekelund, Executive Director and Board member of Novestra, says. For further information please contact Thomas Åkerman, President, AB Novestra, phone No. +46 8 545 017 50. For information regarding AB Novestra, please see Novestra is one of the leading venture capital investment firms in the Nordic countries, primarily with a focus on companies providing enabling services to the network economy. Novestra's portfolio of companies includes B2 Bredband AB, Comintell Holding AB, Continuum Group Ltd, Fanglobe Inc, Iquity Systems Inc, Mobilestop Inc, Netsurvey AB, PowerNet AB and Qbranch AB. Novestra's shares are listed on the O-List of the OM Stockholm Exchange. ------------------------------------------------------------ This information was brought to you by BIT The following files are available for download:

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