EGM approved preferential rights issue

EGM approved preferential rights issue The shareholders of Information Highway AB (publ) has today at a Extra General Meeting approved a preferential rights issue of up to 1,063,385 new shares in the company, before proposed split 10:1. The issue price was fixed at SEK 650 , which after performed split corresponds to SEK 65. The issue price has been decided on the basis of the average stock exchange quotation during 10 trading days in the end of December and gives a discount of around 30 % in relation to this average quotation. In relation to the present quotation of the share this means a substantially higher discount, which is due to the very powerful development of both the IHWY-share and other shares in Internet companies during December. The EGM also approved the proposal of non-cash issues of up to 549,986 shares to carry through the acquisition of Veritema AB and up to 91,803 shares to carry through the acquisition of the business of the Danish company Elk ApS. The EGM also decided to approve of two option incentive schemes to employees within the group. The shareholders finally authorised the board to issue up to a further 3,000,000 shares in connection with the acquisition of further companies and businesses. "Today's decisions makes among other things further expansion possible, and that we can take further steps towards a position as Europe's leading provider of business critical, integrated solutions for the new network economy", says Information Highway's CEO Göran Wågström. The matter regarding split 10:1 will be treated at an EGM to be held 19 January 2000. For further information, reference is made to previous notices and press releases. Sundbyberg, Sweden 10 January 2000, 6:30 p.m. Information Highway AB (publ) For more information, please contact: Göran Wågström, President, +46 (0)8 635 1520, goran.wagstrom@infohwy.se Katarina Nyberg, CFO, +46 (0)70 666 9897, Ulf Karnell, VP, Corp. Comm., +46 (0)70 514 1739. Information Highway assists companies to exploit the business opportunities presented by the new network economy. We consolidate our clients' competitiveness, making them successful in the digital arena, by providing Internet-based solutions characterised by business expertise, creativity and specialist technology skills. Information Highway was founded in 1994 and currently employs 500 people in its Business, Interactive and Technology Consulting business areas in ten locations in Sweden, as well as in Norway, Denmark, FInland and the UK. The company is quoted on the Stockholm Stock Exchange's O-list. Göran Wågström is the group CEO. Information Highway has a client base of about 200 businesses, and provides solutions for ABB, Ericsson, Telia, ATG, Fondex, SAS, Stadium, SMHI and Locus Medicus. [More information is available at http://www.infohwy.se] ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/01/10/20000110BIT00680/bit0001.doc http://www.bit.se/bitonline/2000/01/10/20000110BIT00680/bit0002.pdf