Mandator's Board Proposes New Share Issue with Preferential Rights for Shareholders

The Board of Directors of Mandator has decided on a new share issue with preferential rights for existing shareholders, conditional upon the approval of an extraordinary shareholders' meeting to be held on 1 August. The issue will provide Mandator with SEK 37.6 million before issue costs with full subscription coverage. The majority of the larger owners have a favourable attitude towards participating in the issue.

The issue is being implemented in order to create a stable capital base, to strengthen liquidity during the seasonal weakening of the third quarter and to enable continued investment in selected operations that are developing positively.

Over the past two years Mandator has successively improved its result. This is a result of the company's adaptation of its cost structure and the streamlining of its offering to once again mainly comprise system integration and business development.

In conjunction with the interim report for the first quarter of 2003, it was communicated that the existing liquid fund reserves in combination with the planned and necessary measures were expected to cover liquidity needs for at least 12 months. However, certain measures have not been able to be carried out with acceptable conditions.

With consideration for the above, the Board has decided to propose a new share issue with preferential rights for existing shareholders. Based on a continued hesitant but stable market and positive effects from the already implemented measures, it is the assessment of the Board of Directors of Mandator that the proposed new share issue will cover capital needs until operations start to generate a positive cash flow.

The new share issue will take place with preferential rights for shareholders, who for one (1) existing share will have the right to subscribe to two (2) new shares, at an issue price of SEK 1 per share. The subscription period is 11-22 August 2003. The record day for participation in the new issue is 6 August 2003. The final day for trading with the company's shares and subscription rights will be 1 August 2003. The prospectus is anticipated to be ready on 6 August 2003. The new share issue means that with full subscription coverage the number of shares will increase by 37,593,898 to 56,390,847.


For more information, please contact:
Niklas Flyborg, CEO, Tel. +46 (0)705-949 678
Robert Karlsson, Director of Corporate Communications, Tel. +46 (0)709-565 141
Maria Lilja, Chairman of the board, Tel. +46 (0)706-754 552