Information Highway convenes an EGM

Information Highway convenes an EGM Today, Information Highway's Board has resolved to convene an Extraordinary General Meeting on 14 December. The Board is proposing that the Meeting reaches resolutions on: a 4:1 split, approval for a non-cash issue, options incentive scheme, authorisation for the Board to resolve on a new issue and a preferential rights issue. All these corporate actions intended to enable further acquisitions and to sustain Information Highway's brisk expansion. The EGM will consider the Board's proposals. Recently, the market has expressed a desire for increased liquidity in the Information Highway share, and accordingly, the Board has proposed that the EGM resolves on a 4:1 split. The Board is proposing that the EGM approves a non-cash issue of a maximum of 549,986 shares (2,199,944 shares after the 4:1 split) relating to the acquisition of Veritema AB. The Board has also proposed that the EGM grants the Board authorisation to issue a further 3,000,000 shares, and for a preferential rights issue of 1,040,434 shares (i.e. 12,000,000 shares and 4,161,736 shares after the 4:1 split respectively). "The implications of these proposals include the possibility to make additional acquisitions, of about SEK 1.2 billion at prevailing share prices- and that we can step up our rate of expansion another gear," said Information Highway's President Göran Wågström. The notice convening the EGM, including additional information, will be distributed to shareholders of Information Highway AB (publ) in the customary manner via an announcement in the Swedish Official Gazette, as well as Swedish daily broadsheet Svenska Dagbladet. The EGM will be held on Tuesday 14 December 1999 at 4 p.m., at Information Highway's head office on Landsvägen 39, Sundbyberg, Sweden. The Board's complete decision, proposal for resolutions and the documents to be submitted to the EGM will be available at the company's head office on Landsvägen 39, Sundbyberg, Sweden, from Tuesday 7 December 1999 onwards. Sundbyberg, Sweden 11 November 1999, 9:00 a.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 over 330 people in its Business, Interactive and Technology Consulting business areas in nine locations in Sweden, as well as in Norway, Denmark 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/1999/11/11/19991111BIT00320/bit0001.doc http://www.bit.se/bitonline/1999/11/11/19991111BIT00320/bit0002.pdf