Annual General Meeting and Extraordinary General Meeting of
KEY ITEMS OF BUSINESS AT THE ANNUAL GENERAL MEETING (AGM) OF BURE EQUITY AB (PUBL) ON 23 APRIL 2008:
Election of Board members
Sitting Board members Björn Björnsson, Kjell Duveblad, Håkan Larsson, Ann-Sofi Lodin and Board Chairman Patrik Tigerschiöld were re-elected. At the statutory meeting following the AGM, Håkan Larsson was re-appointed as Deputy Chairman.
Dividend
The AGM approved of a cash dividend of SEK 1.00 per share, corresponding to a total sum of MSEK 92.6. The record day was set to Monday 28 April, 2008, which means that the payment of dividend will be expected on Friday 2 May, 2008.
Amendment to the Articles of Association (§ 3 - Operation)
The AGM adopted new Articles of Association, whereby § 3 now will read: “The object of the Company is to invest in and develop companies in order to create value growth for the Company’s shareholders and supply administrative services for companies where the Company owns shares or stakes, and carry out business related thereto”.
Reduction and increase in the company’s share capital
Because the company has repurchased a total of 5,738,200 treasury shares, the AGM resolved to reduce the company’s share capital with SEK 49.1M through redemption of the treasury shares without compensation. At the same time, the AGM resolved to increase the company’s share capital through a bonus issue in the amount of SEK 49.1M through the transfer of SEK 49.1M from non-restricted equity. No new shares will be issued in connection with the increase in share capital.
Repurchase and sale of shares
The AGM authorised the Board of Directors to acquire and sell the company’s treasury shares during the period until the next Annual General Meeting. After the buy-back, Bure may hold a maximum of 10 per cent of all issued shares in the company.
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KEY ITEMS OF BUSINESS AT THE EXTRA GENERAL MEETING (EGM) OF BURE EQUITY AB (PUBL) ON 23 APRIL 2008 FOLLOWING THE AGM:
Reduction of the company's share capital and reserve fund
The EGM resolved to decrease the share capital by SEK 542.0M, without withdrawal of shares, and to decrease the reserve fund of the company by SEK 671.4M to be allocated to a free fund to be used in connection with the transformation of the company from an investment company into an operating group of companies within the education sector.
The implementation of the resolutions are dependant upon receiving permission to decrease the share capital and the reserve fund from the Swedish Companies Registration Office, or, if disputed, from public court.
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Utilization of authorization to repurchase own shares
The AGM on 23 April 2008 approved the proposal to authorize the Board of Directors to purchase the company's own shares for the purpose to enable the Board to adapt the capital structure to the company’s needs and thereby contribute to increased shareholder value. At the statutory meeting following the AGM and EGM, the Board decided to utilize this authorization.
The shares will be purchased on the OMX Nordic Exchange (OMX Nordiska börsen) at a price within the registered share price interval on each occasion when the Board finds it favourable for the company's shareholders.
Purchase can be made as of 24 April, 2008, until next year's AGM on 28 April, 2009. No acquisitions are intended to be made during a 30-day period prior to the announcement of quarterly result, the day of announcement included.
Bure currently holds 5,783,200 own shares. The total number of outstanding shares in Bure is currently 98,377,837. Taking the AGM's decision into consideration that 5.738.200 shares shall be redeemed, the total number of shares thereafter amount to 92,639,637. The maximum number of shares which can be repurchased is thereafter 9,263,963.
Gothenburg, 24 April, 2008
Bure Equity AB (publ)
The Board of Directors