Final agreement completed with Royal Mail
Final agreement completed with Royal Mail CityMail Group AB ("CityMail") and the British Post Office, through Post Office Investments Limited ("Post Office") has signed a final agreement in line with the previously published memorandum of understanding (see pressrelease 29 May 2000). The result of the agreement will be that CityMail and Post Office form a joint venture (referred to below as the "Distribution Company") that will aquire and run CityMail's operations for the distribution of computer-addressed mail in Sweden. CityMail has convened an extraordinary general meeting of the shareholders to be held on 28 June 2000 for final approval of the agreement. Closing date for the transaction is planned to be 30 June 2000. [REMOVED GRAPHICS] 1 Brummer and Partners Zenit, Henderson Investors, Royal Post Holding , Fidelity and Mercury Asset Management, which in the aggregate hold shares representing approximately 51 percent of the voting rights in CityMail, have confirmed that they will use all reasonable endeavours to procure the exercise of votes in favour of the approval of the final agreement if the terms of the final agreement in all material respects correspond to the terms of the Memorandum of Understanding (see pressrelease 8 June 2000). The Board of Directors of CityMail have asked for an independent fairness opinion from Erneholm & Haskel AB. The company has come to the conclusion that the transaction is fair for the shareholders of CityMail from a financial perspective. For further information please contact: Håkan Ohlsson, Deputy Managing Director CityMail Group tel +46 707 52 42 01 hakan.ohlsson@citymail.se Bror Anders Månsson, Managing Director CityMail Group tel +46-708 80 25 28; +46 8 709 43 00 bam@citymail.se Visit us at our home page: http://www.citymail.se/ 1 Royal Post Holding AB contains shareholdings in CityMail of senior executives in CityMail. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/06/26/20000626BIT00450/bit0001.doc http://www.bit.se/bitonline/2000/06/26/20000626BIT00450/bit0002.pdf