Cardo’s AGM

At Cardo’s annual general meeting today, Fredrik Lundberg was re-elected as Chairman of the Board. The members of the board Lennart Nilsson, Tuve Johannesson, Berthold Lindqvist, Carina Malmgren Heander, Bengt Pettersson and Anders Rydin were also re-elected. In addition, the annual general meeting elected Peter Aru, Cardo’s President and CEO, as a new member of the board.

The meeting further resolved to adopt the board’s proposal for amendment of the articles of association, with adjustment of the limits for the share capital and adaptation to the new Companies Act from January 1 2006.

The meeting resolved to authorize the board of directors to acquire up to so many own shares before the next annual general meeting that the company’s holding at no time exceeds 10 percent of all shares in the company. Acquisition is to be made on the Stockholm Stock Exchange at the market value applying on the occasion of acquisition. The purpose of the repurchase is to give the board the opportunity to adjust the capital structure of the company during the period until the next annual general meeting.

Dividend
In accordance with the proposal put forward by the board of directors, the meeting declared a dividend of SEK 8.00 per share. April 11 2006 was established as the day of record for dividend and April 18 2006 as the payment date.

President’s report
In his speech, Cardo’s President and CEO Peter Aru gave an account of the company’s development and strategies for growth. 2005 was a year of great changes at Cardo in respect of business strategy, organization and mode of operation. Cardo’s new direction involves offering complete solutions to strategically selected customers with a great need for service. At the turn of the year, the group was reorganized into four divisions:

- Door & Logistics Solutions, with Crawford as its corporate brand
- Wastewater Technology Solutions, with ABS as its corporate brand
- Pulp & Paper Solutions, with Lorentzen & Wettre and Scanpump as its brands
- Residential Garage Doors, with Crawford, Normstahl and Henderson as its brands

The entire address is available for download in pdf format on Cardo’s website at www.cardo.com.
As of tomorrow, a video recording of the President’s speech will also be provided here.

Malmö, Sweden, April 6 2006

Cardo AB (publ)


For further information, please contact:
Maria Bergving, Senior Vice President Group Communications, tel +46 40 35 04 25, +46 70 602 61 81