Annual General Meeting at Artimplant AB
Annual General Meeting at Artimplant AB On Wednesday, May 3, 2000 Artimplant AB held its Annual General Meeting in Gothenburg. The group's and the parent's income statements and balance sheets were adopted and the Board of Directors and the Chief Executive Officer were discharged from liability for the financial year 1999. The General Meeting voted that no dividend be paid for the financial year 1999. The following board members were reelected: Claes-Göran Fridh (Chairman), Anders Cedronius (CEO), Per Flodin, Helge Ramseng, Svante Rasmuson, Akbar Seddigh and Stig I Andersson. The General Meeting decided on a new issue of a promissory note of SEK 10,000 kronor with 512.500 immediately detachable warrants where each warrant entitles to a subscription of one share series B at a price of SEK 300. The warrants shall last until March 30, 2004 and the subscription time includes the period October 1, 2003 until March 30, 2004. The premium for the warrants is calculated according to the so called Black & Scholes model and will be set, taking share price fluctuations into consideration, at the time of transfer. The maximum dilutionary effect will be 5,54% of the capital and 2,81% of the votes. The purpose with the warrant program is to increase the possibilities to recruit qualified persons, keep existing key personnel and increase the motivation and interest for the earnings development. The Board of Directors aims at creating a long term ownership interest, which is deemed to add value to the shareholders. In his speach at the General Meeting the CEO, Anders Cedronius, commented that year 2000 marks Artimplant's beginning of the market phase and the company expects to launch several products during the next two year period, with a first product already during 2000. The positive results and observations from the clinical studies regarding anterior crutiate ligament implants and thumb ligaments have increased the priority in these areas and the company aims at having at least one ligament product certified in Europe during the current year. The change of priority has resulted in a postponement of the development of bone fracture implants. Artimplant has effected a directed issue which provided the company with SEK 143 million before issue related costs. A larger part of the proceeds will be used for the build-up of Artimplant's global market organization, including clinical trials, and the remainder on the expansion of the production capacity and research and development. For further information, please contact: Lars-Erik Nygren, CFO, tel: +46 - 31-746 5600 or Kari Odhnoff, Investor Relations, tel: +46 - 708 - 639 341 www.artimplant.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/05/03/20000503BIT01340/bit0001.doc http://www.bit.se/bitonline/2000/05/03/20000503BIT01340/bit0002.pdf