Report from IBS AB’s Annual General Meeting, 5 May, 2004

IBS continues to specialise in solutions for Supply Chain Management

At IBS’ Annual General Meeting held on 5 May, 2004, CEO Magnus Wastenson stated that the company will continue to strengthen its position within the area of Supply Chain Management.

"With growing competition on the volume markets for broad-based business software, specialisation is essential in order to be able to compete successfully. We are focusing our development, marketing and sales efforts on market areas in which we have the capacity to be leading players. We have a strong portfolio of software, a sales and implementation model that allows us to make qualified assessments and surveys of the value created by planned and completed IT investments," says Magnus Wastenson, CEO of IBS.

"Since its foundation in 1978, IBS has made some 20 acquisitions that have established the company on new geographical markets and have contributed towards IBS’ growth and profitability. During the week, we signed a Statement of Intent for another acquisition which will strengthen our position on the growing US market," continues Magnus Wastenson.

"We started the first quarter of 2004 with a continued increase in profit, despite a cautious market, and our forecast of an improvement in profit for the full-year 2004 remains", concludes Magnus Wastenson.

The AGM decided that no dividend should be paid for 2003. Furthermore, the AGM agreed to discharge the Board and the CEO from liability for the financial year 2003. The current members of the Board – Staffan Ahlberg, Elisabet Annell, Johan Björklund, Kai Hammerich, Sigrun Hjelmquist, Lars Kylberg, Stig Nordfelt and Gunnar Rylander – were re-elected.

The registered audit firm KPMG Bohlins AB was re-elected as auditors with Anders Malmeby as auditor in charge.

At the Board Meeting following the AGM, Gunnar Rylander was re-appointed Chairman of the Board. Elisabet Annell, Sigrun Hjelmquist and Gunnar Rylander were appointed as members of the Compensation Committee. Lars Kylberg and Stig Nordfelt were appointed as members of the Audit Committee.

The AGM also decided to adopt the proposal for new Articles of Association.