Report from Annual general meeting

REPORT FROM ANNUAL GENERAL MEETING Dividend At the Annual General Meeting held on May 3, 2001, Gunnebo AB's shareholders resolved in favour of paying a dividend of SEK 4.25 per share (previous year SEK 3.25), including a bonus of SEK 1.00 in connection with capital gains booked during the year, in accordance with the proposal of the Board. It was agreed that May 8, 2001 should be the date of record for entitlement to dividend, and the dividend is expected to be disbursed by VPC on May 11, 2001. Board Roger Holtback, Rolf Ekedahl, Nils-Olov Jönsson, Sten Langenius, Per- Henrik Berthelius and Bjarne Holmqvist were re-elected as members of the Board and Mikael Jönsson was re-elected as a deputy member. Roger Holtback was elected chairman at the statutory meeting of the Board. Auditors Pricewaterhouse Cooper KB, the registered auditing company, was appointed auditor of the company for a four-year period at last year's Annual General Meeting. Mandate to Board The Meeting resolved in favour of mandating the Board to decide between now and the next Annual General Meeting to issue up to 600,000 shares for use in connection with company acquisitions. Abstract from the President's address to the AGM "After a slightly weak start to the current year, the first quarter's order intake rose by 33 % to MSEK 1,603. The order intake for the period exceeded invoiced sales by 14 %. Organic growth for the period was 9 %. The result for comparable units and after adjustment for currency fluctuations, was MSEK 17, which is MSEK 3 better than last year," commented Bjarne Holmqvist, Gunnebo's President and CEO. Bjarne Holmqvist also informed shareholders that Gunnebo's extensive restructuring programme costing MSEK 270, which will have its full effect in the form of cost reductions of MSEK 100-150 by no later than 2003, is proceeding in accordance with agreed action plans and time schedules. The effects of the current restructuring program will be apparent during 2002 and are expected to generate rationalization gains of between MSEK 100 and MSEK 150, with their full effect in 2003 at latest. In terms of earnings, 2001 will therefore be an intermediary year. The result for 2001 is expected to be on a par with that for 2000 (MSEK 210 excluding items affecting comparability). Gunnebo Security's operating profit is expected to improve considerably already this year and to increase by at least MSEK 100. Bjarne Holmqvist also drew attention to four acquisitions - CS Security, the Clausen group, Musa and ANJA - all of which were completed in April this year. The aggregate annual turnover of the four companies amounts to almost MSEK 600. The acquisitions bring 525 new co-workers into the Group. Göteborg, May 3, 2001 GUNNEBO AB (publ) Information For further information please contact: Bjarne Holmqvist, President and CEO, Gunnebo AB, telephone +46 31 83 68 00, mobile +46 708 40 03 70, Lennart Gustavsson, Director of Financial Systems and Finance, Gunnebo AB, telephone +46 31 83 68 00 or mobile: +46 705 93 40 80, or Janerik Dimming, Director of Information, Gunnebo AB, telephone +46 31 83 68 03, mobile +46 705 83 68 03, or email: janerik.dimming@gunnebo.se ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/03/20010503BIT01320/bit0002.doc http://www.bit.se/bitonline/2001/05/03/20010503BIT01320/bit0002.pdf