New website for HQ AB shareholders

As of 9 September 2010, information for HQ AB’s shareholders will be published on www.hqab.se.

The purpose of this new website is to continuously provide shareholders with up-to-date information on issues associated with the listed company HQ AB.

Background
As previously announced, on 3 September 2010, HQ AB sold all of its shares in its subsidiary HQ Bank AB, including the option to acquire HQ Fonder Sverige AB, to Carnegie group. This sale was a consequence of the 28 August 2010 revocation by the Swedish Financial Supervisory Authority (FSA) of all HQ Bank licences and the FSA’s notification that it intended to submit an application for compulsory liquidation of HQ Bank. The FSA’s decision was based on deficiencies it had previously identified, primarily associated with HQ Bank’s now closed trading operations.

Following the transaction and the future repayment of convertible loans in HQ AB, HQ AB’s equity is estimated pro forma to amount to approximately SEK 60 million.  The total number of outstanding shares is 27,925,280.

HQ AB’s Board of Directors remains unchanged until further notice. Stefan Dahlbo is the acting CEO. 

For additional information, please contact:
Madeleine Bruce-Martinsson, acting information contact
Tel: +46 (0) 761 16 00 41
E-mail: info@hqab.se