Novestra increases its industrial focus towards network technology and network services and plans a sale of non-strategi

NOVESTRA INCREASES ITS INDUSTRIAL FOCUS TOWARDS NETWORK TECHNOLOGY AND NETWORK SERVICES AND PLANS A SALE OF NON-STRATEGIC HOLDINGS AB Novestra will consolidate and focus its investments on a limited number of strategic business areas, primarily within network technology and network services. Novestra intends to present a number of structure deals and new investments at the latest in connection with the year-end report which will be made public in August. Novestra is planning to sell the major part of its non-strategic holdings during the upcoming year and, as a step in this process, will write off the value of three of its holdings (Delphi Finansanalys AB, Fanglobe Inc. and Klick Data AB). Some of the non-strategic holdings show a positive development and, in some cases, very high profitability. All in all, shareholders' equity per share is estimated at slightly over SEK 20. "As previously announced, we shall concentrate on some of the portfolio companies which have developed well and the flow of business generated from the collaboration with Ericsson Business Innovation AB. We believe that it is through this consolidation, whereby we have a large stake in a number of companies which we focus our resources on, that the larger shareholders' value will be created. Even if a sell-out of non-strategic holdings will result in increased liquidity, it is not our primary intention, as we already have substantial funds available. It is more about releasing resources to enable us to be more active in those companies where we are focusing on building up larger entities with significant value potential," says Novestra's President, Mr Thomas Åkerman. The new date set for Novestra's year-end report is August 27, 2001. 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 Holding Inc. Novestra's shares are listed on the O-List of Stockholmsborsen. For information regarding AB Novestra, please see www.novestra.com . ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.bit.se/bitonline/2001/06/21/20010621BIT00380/bit0001.doc http://www.bit.se/bitonline/2001/06/21/20010621BIT00380/bit0001.pdf

About Us

Novestra is an independent investment company with a portfolio of small cap private as well as public companies. Novestra focuses on investing in companies with substantial growth or value potential.

Subscribe