Eniro's top management signs up

Eniro's top management signs up The top management of Eniro showed great interest for the option rights program approved today by an extraordinary general meeting at Eniro AB. All persons in corporate management and management groups in the Nordic subsidiaries have applied for options. In all, nearly one third of the employees in the Nordic operations have shown interest for the program. Mainly due to taxation technicalities Eniro is not able to offer the option rights program to the operations in eastern Europe. The extraordinary general meeting at Eniro AB has decided today to approve the Board's decision on the issue of promissory notes associated with option rights to subscribe to new issue of shares in the Company. The extraordinary general meeting also decided to authorize the Board to decide on the issue of new shares. The share capital may thereby be increased with 15 000 000 SEK at the most. The following resolution was passed at today's extraordinary general meeting: Issue of promissory notes associated with option rights The Board decided on 24 October 2000, subject to the general meeting's ap- proval, to issue promissory notes for a nominal max. 10,000 SEK associated with max. 5,000,000 option rights to subscribe to a new issue of shares, whereby each option right entitles the holder to subscribe one new share in the Company. Promissory notes including option rights are issued for the promissory notes' nominal amount. With full exercise of the option rights the Company's share capital can be increased by max. 5,000,000 SEK. The shares may be applied for, according to the conditions of the option rights, during the time from 30 June 2003 to 21 February 2004 inclusive. The issue has, with waiver of the shareholders' pre-emptive right, been taken up by a wholly owned second-tier subsidiary of the Company for further transfer to employees of Eniro AB (publ) and its subsidiary companies. However, as a consequence of the take-up rate the second-tier subsidiary company has only subscribed promissory notes with option rights representing 1 500 000 shares. The increase in share capital represents 1 per cent of the present share capital and number of votes after full exercise of the option rights. Transfer of option rights to employees Following the offer to employees to acquire option rights, which have been taken up as above, 309 employees have acquired 683 200 rights. The take-up rate represents 23 per cent of the employees who, in reality are included in the offer. 16 per cent of the total number of employees have signed up. The second-tier subsidiary company subsequently holds 816 800 option rights that will be used primarily for sale to new employees. Authorization for the Board to take decisions on new issues The general meeting also decided to authorize the Board until no later than the next ordinary general meeting, on one or more occasions, to make decisions about new issues - with or without waiver of the shareholders' pre-emptive right - of max. 15,000,000 new shares. The Company's share capital can thus be increased by max. 15,000,000 SEK. The Board's decisions about new issues may also contain a provision about subscription in kind. The Board otherwise has the right to decide on the terms of issue the Board deems necessary to float any new issue. The reason for the authorization and the option of waiver of the shareholders' pre-emptive right is to give the Company the opportunity of financing and, where applicable, offering shares as payment in the case of company acquisitions, thereby enabling continued expansion of the Company's op- erations. THE BOARD OF DIRECTORS Further information can be provided by: Lars Guldstrand CEO, 08 634 70 01, Mikael Engqvist Chief Legal Officer, 08 634 7015 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/11/21/20001121BIT01160/bit0001.doc http://www.bit.se/bitonline/2000/11/21/20001121BIT01160/bit0002.pdf